Partnerships / Acquisitions

First Data Inks Deal With SBI Card, Expands In India

First Data has announced that it is partnering with SBI Card to expand its card management solutions in India.

First Data will also open a new data center facility in India, utilizing its VisionPLUS software to provide card management solutions that enable faster application development and integration.

“We are thrilled to grow this partnership with SBI Card. As India continues its path towards demonetization, the country remains an important market for us, and we are uniquely positioned as a leader of both card issuance and acquiring solutions in India, driving innovation with mobile and digital solutions,” stated Ivo Distelbrink, executive vice president and head of Asia Pacific for First Data. “First Data is committed to investing in and expanding our business in India, responding to the increasing need for robust, secure and flexible solutions for cardholders, and enabling clients like SBI Card to maintain a competitive edge in the market.”

SBI Card issues credit cards to more than 5.6 million customers in India.

“We are pleased to appoint First Data as our new partner to provide end-to-end processing services hosted in India. First Data will set up and manage new data center facilities in India to provide card management solutions,” said Vijay Jasuja, CEO of SBI Card. “These services from First Data will enable us to get better economies of scale and enhance service levels. We will also leverage new digital capabilities from First Data in the future. We look forward to a long-term association with First Data.”

Working with top national and international banks, corporations and merchants, First Data already processes many of the mobile transactions in India. In addition, it was the first to launch mobile multi-payment and digital self-service channels for merchants.

“First Data offers comprehensive services to many of the major financial institutions around the world,” said Andrew Gelb, executive vice president and head of global financial solutions for First Data. “This agreement with a great partner, SBI Card, demonstrates the continued expansion of our global processing footprint, the scalability and flexibility of our world-class VisionPLUS platform and services, and our commitment to partnering with the world’s leading financial institutions.”

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The PYMNTS Next-Gen AP Automation Tracker, is a monthly report that highlights the most recent accounts payable developments and automated solutions that are disrupting how businesses process invoices, track spending and earn rebates on transactions.

TRENDING RIGHT NOW

To Top