First Data to take on Aussie banks in payments
(12 November 2015 – Australia) Global payment solutions provider (PSP), First Data, has ended a ten-year partnership with Bankwest to provide its own merchant payment service in Australia.
The company announced the launch of First Data Merchant Solutions, seeking to double the number of its merchant customers in the next two years.
The PSP has been providing payment services to more than 11,000 merchants under the BWA Merchant Services brand for the past decade, however, moving forward, it will serve local merchants directly via First Data Merchant Solutions in Australia.
Speaking to Fairfax media, Sam Itzcovitz, Head of Global Business Solutions of First Data Australia and New Zealand, said: “From our perspective Australia is a very attractive market, there is a very large revenue pool related to merchant acquiring and it is growing. We also see a lot of global multinationals who operate in this marketplace.
“We have done some internal analysis on what we think the size of the market is here, and we think it is somewhere between a $1 billion to $1.3 billion revenue pool and it is growing at about 5 percent YOY and we think it is going to accelerate.”
“Australian business owners today need payments and technology solutions that are not only dependable and intuitive, but can futureproof them as their customers’ behaviours change. Whether this is preparing for new payment channels, the peak sales season at Christmas or ensuring uptime during an online sale, First Data Merchant Solutions is dedicated to being with our clients every step of the way and delivering high-quality, secure solutions tailored to business needs,” said Itzcovitz.
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