BankWest inks merchant acquiring services deal
(6 September 2005 – Australia) BankWest has formed an alliance with payments solutions company First Data to deliver merchant acquiring services, a move that will give BankWest a transaction banking foothold on the east coast.
Called BWA Merchant Services, the joint venture will use First Data’s back office processing technology to provide BankWest merchants with debit and credit card and other electronic payments services.
The move replicates similar growth models and strategies employed by the bank’s UK parent, HBOS.
"We saw an opportunity to leverage the international relationship our parent has with First Data and look forward to fully utilising the new partnership to explore upcoming opportunities and bring our customers a range of world class product and service enhancements in the near future," BankWest Business chief executive officer, Paul Clark, said.
He said the transition to First Data’s merchant processing platform would be seamless for the bank’s merchants and would take up to eight months to complete.
"They will continue to receive the high level of service they have come to expect from BankWest, and benefit from the addition of new services and enhanced functionality," Clark said.
The move replicates similar growth models and strategies employed by the bank’s UK parent, HBOS.
"We saw an opportunity to leverage the international relationship our parent has with First Data and look forward to fully utilising the new partnership to explore upcoming opportunities and bring our customers a range of world class product and service enhancements in the near future," BankWest Business chief executive officer, Paul Clark, said.
He said the transition to First Data’s merchant processing platform would be seamless for the bank’s merchants and would take up to eight months to complete.
"They will continue to receive the high level of service they have come to expect from BankWest, and benefit from the addition of new services and enhanced functionality," Clark said.
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