First Data Corp. announced a deal with Inicis Co. Ltd., a Seoul online payment processor, to provide merchant processing services to online merchants in South Korea.
The Denver payment processor said Friday that its international division and Inicis will jointly provide online payment processing to First Data's e-commerce merchant customers in South Korea. First Data also will market the services to new merchants and to the Korean affiliates of its clients.
Neither the length nor the value of the deal were disclosed.
Inicis will provide cardholder authentication, authorization, clearing and settlement, funding, call center support and chargeback processing. First Data will deliver merchant summary data to the merchant.
The two companies also plan to develop e-commerce payment processing services.
Inicis said it processes more than $2 billion of transactions a year and works with over 16,000 online merchants.
