Australian IAD Ezeatm Ltd. has announced a 5-year agreement with First Data for ATM processing, switching and other related services. The agreement initiates a direct relationship with First Data, which previously had only provided third-party services for Ezeatm.
"[P]rior to our iCash acquisition [in December of 2011], Ezeatm had non-exclusive processing agreements with both iCash and Indue, who in turn had ATM processing agreements with First Data," said Ezeatm CEO Todd Zani. "We're pleased to enter into this direct relationship with First Data, which will enhance service delivery to our clients and deliver costs savings for the business and our shareholders."
The existing agreement with First Data was scheduled to end on in January of 2014, but in good-faith negotiations, the companies negotiated an extension and reworked key terms of the existing agreement. Under the terms of the new agreement, First Data will provide management, switching, driving and operational support for more than 1,800 Ezeatm devices in Australia.
"Within the Australian payments market, we have more than 28 years experience, process more than 1.5 billion transactions per year on our wholly owned switching infrastructure, and lead the industry with 100 per cent scheduled switch uptime over the last 10 years," said John Tait, managing director of First Data for Australia and New Zealand. "We are pleased to leverage this experience in transaction and payment solutions to provide Ezeatm with industry leading services and reliability."
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