News

First Data to buy South America's leading payment processor

August 16, 2006

BUENOS AIRES, Argentina - First Data International has announced plans to acquire Argentina-Argencard S.A., a leading payment processor in Argentina and Uruguay.

Terms of the agreement were not disclosed, and the deal is subject to approval, First Data said in a news release. The acquisition is expected to be completed by the fourth quarter.

Argencard provides card-issuing and merchant-acquiring processing services. It supports more than 70 banks, with 9 million cardholders and more than 150,000 active merchants.

"We are dedicated to delivering global payments expertise through local organizations that are well-respected and trusted," said Peter Harrington, First Data International's president for Latin America. "The acquisition of Argencard supports this commitment as well as our continued focus on becoming the industry leader in the South American electronic payments market."