First Data, an e-commerce and payment services company, has announced the opening of its new office in Karachi, Pakistan, and the appointment of Khurram Agha as its country manager.
According to First Data, entry into the Pakistan market reflects its strategy of developing a local presence in major markets around the world to deliver its global payments solutions. The Pakistan business will be a part of First Data's Europe, Middle East and Africa operations.First Data said that it offers a range of payment card and loan processing services, merchant acquiring solutions, ATM and point-of-sale management, fraud and risk management as well as other value-added services to Pakistan's financial institutions and major retail organizations.Mr Agha joins First Data from UBL where he was the executive vice president responsible for cash management, financial institutions and home remittances.Brian Quarrie, managing director of First Data in the Middle East, said: "A buoyant economy in Pakistan has driven strong growth in consumer finance during the last five years, with card spending growing at more than 30% per year in the last three years. Opening the office in Pakistan demonstrates our commitment to this emerging market."
