News

First Data provides merchant solutions to HSBC

February 23, 2006

DUBLIN, Ireland - First Data Corp. signed a three-year global merchant-processing agreement between its affiliate OmniPay, an international merchant-acquiring platform, and HSBC, one of the world's largest banking and financial services organizations.

According to a news release, OmniPay will enable HSBC to acquire merchants with a Pan-European or global presence on a single processing platform, consolidating all treasury, reporting and support requirements. Entering into a global acquiring contract with HSBC also eliminates the need for merchants to negotiate market-by-market contracts.

"This deal cements OmniPay's position as the market leader in the provision of multicurrency merchant services," said OmniPay chief executive Brian Connolly. "When OmniPay was established in 2000, we specifically built solutions that would enable acquiring banks to support their multinational corporate customers as they expanded their business into new geographic markets."