TORONTO, October 16 /CNW/ - First Data Corp., a global leader in
electronic commerce and payment services, today announced it has launched a
new merchant acquiring business called POSNET(TM) to serve merchants of all
sizes in Canada.
POSNET offers a complete range of innovative payment processing services,
which allow Canadian merchants the ability to accept all forms of payment
including credit cards, debit cards and gift cards. In addition, POSNET offers
POS solutions; internet and emerging payments; authorization, settlement and
reconciliation; chargeback administration; fraud prevention; reporting and
equipment management and customer service.
"At POSNET, we have a solid strategy for success by offering a
comprehensive suite of products and services that allow our merchant clients
to easily and securely accept a wide range of payments," said Wayne Clarke,
Senior Vice President, Latin America and Canada, First Data International.
"POSNET distinguishes itself by providing enhanced functionality with an
expanded point-of-sale product set that includes EMV/chip card acceptance.
With Canada moving toward increased EMV/chip card usage, POSNET is prepared to
ensure merchants experience a smooth and easy transition."
"POSNET has a deep understanding of the Canadian business processes and
regulatory environment, and will build a foundation of trust with its
merchants by delivering highly reliable and secure systems," said Peter
Harrington, President, Latin America and Canada, First Data International.
"With over 30 years of powering billions of transactions around the world,
First Data is well positioned to grow POSNET into a market leader across this
rapidly expanding payments market."
First Data also has a merchant acquiring business in Argentina and
Uruguay named POSNET. It will continue to expand this business across the
region and offer the local merchant community a competitive choice for
reliable, secure and flexible electronic payment services.
Note to Editors: The EMV term derives from the initials of Europay,
MasterCard and Visa and is a common technical security standard, which will
make payments more secure and help to reduce card fraud at the point-of-sale
About First Data
First Data Corp. is a leading provider of electronic commerce and payment
solutions for businesses worldwide. With operations in 38 countries, First
Data serves over 5 million merchant locations, 1,900 card issuers and their
customers. It powers the global economy by making it easy, fast and secure for
people and businesses around the world to buy goods and services using
virtually any form of payment. The company's portfolio of services and
solutions includes merchant transaction processing services; credit, debit,
private-label, gift, payroll and other prepaid card offerings; fraud
protection and authentication solutions; receivables management solutions;
electronic check acceptance services through TeleCheck; as well as Internet
commerce and mobile payment solutions. The company's STAR Network offers
PIN-secured debit acceptance at 2 million ATM and retail locations. For more
information, visit www.firstdata.com.
For further information:
For further information: First Data Corp. Julie Holan, +1-321-263-3838
(Canada) firstname.lastname@example.org Cara Taylor, +1-303-967-6367 (United