BankWest, First Data form alliance for merchant acquiring in Australia

SYDNEY- In a first for the Australian financial services industry, BankWest, a member of the HBOS Australia group, and First Data Corp. have formed an alliance for merchant-acquiring services in the Australian market.

The new alliance, BWA Merchant Services, is responsible for providing the full range of acquiring services for BankWest merchants and their acceptance of debit, credit cards and other forms of electronic payments. It also further supports First Data's global strategy of partnering with leading financial institutions to further develop their merchant services business.

"BankWest and First Data have complementary strengths and expertise," said Greg Nash, managing director of First Data International in Australia, New Zealand and South Asia. "The alliance creates a compelling processing solution for merchants in Australia."

BankWest's decision to form this alliance reflects the growth strategy of its UK-based parent, Halifax Bank of Scotland plc (HBOS). Together, HBOS and BankWest are executing a growth strategy to become a major force in the Australian financial services industry.

"We saw an opportunity to leverage the international relationship our parent has with First Data, and look forward to fully utilizing the new partnership to explore upcoming opportunities and bring our customers a range of world class product and service enhancements in the near future," said Paul Clark, chief executive of BankWest Business. "The transition will be seamless for merchants. 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."

The business move to First Data's merchant processing platform is expected to continue over the course of eight months.