Arab National Bank Selects First Data for Card Processing
BASILDON, England, Sep 21, 2000 /PRNewswire via COMTEX/ -- First Data Corp.
(NYSE: FDC), a global leader in electronic commerce and payment services, today
announced a new agreement to provide card processing services to Arab National
Bank, the electronic commerce and payment services leader in Saudi Arabia. The
Arab National Bank has converted its credit card portfolio to the FDR Limited
(FDRL) system, operating out of Basildon, Essex.
Hesham AlShaikh, general manager retail bank group, Arab National Bank, said
"Our mission is to provide the latest state-of-the-art technology to our
customers for their convenience and satisfaction, therefore we have decided to
move our credit card processing functionality to the First Data platform which
will allow us to build a profitable and sustainable plastic payment business,
developing new and technologically advanced payment card products with greater
ease and flexibility. We are looking forward to a long term and fruitful
partnership with First Data."
The Saudi Arabia-based Arab National Bank issues both MasterCard and Visa cards
to its customers and maintains a bank branch in London and a total of 117 bank
branches throughout the Kingdom of Saudi Arabia. First Data provides card
processing services to more than 260 million card accounts around the world.
Gregg Christoph, director, client relations at FDRL, said, "We are excited to
have Arab National Bank as a major client in an ever expanding market. We are
looking forward to helping them meet their card based goals and objectives."
About First Data
Atlanta-based First Data Corp. (NYSE: FDC) helps move the world's money. As the
leader in electronic commerce and payment services, First Data serves more than
two million merchant locations, 1,400 card issuers and millions of consumers,
making it easier, faster and more secure for people and businesses to buy goods
and services using virtually any form of payment. With more than 30,000
employees worldwide, the company provides credit, debit and stored- value card
issuing and merchant transaction processing services; Internet commerce
solutions; money transfers and money orders; and check processing and
verification services throughout the United States, United Kingdom, Australia,
Mexico, Spain and Germany. In addition, its Western Union(R) network includes
approximately 90,000 agent locations with operations in 182 countries and
territories. For more information, please visit the company's Web site at
www.firstdata.com .
SOURCE First Data Corporation
URL: firstdatacorp.com
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(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: Nebraska
Georgia
England
Saudi Arabia
INDUSTRY KEYWORD: FIN
CPR
SUBJECT CODE: CON
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