First Data Overview
First Data Corporation is a financial services company who offer global payment technology solutions to various countries. The company is based in Atlanta, Georgia, United States. Established on 7th April 1989, they are the major service provider of commerce-enabling solutions for different types of customers that include financial institutions, card issuers, and merchants. The company’s shares are available on the New York Stock Exchange. They generate annual revenue of more than US$ 11.58 billion through transactions around the globe. Apart from their headquarters, the company has offices in many other countries that include India, Canada, Singapore, and the United Kingdom among others.
The company work in a partnership with many global organisations, such as Ignite Payments, Global Payment Facilitator, and many more.
First Data Divisions
The company has divided their operations into three different divisions that are explained below:
• Global Business Solutions-
This division is responsible for offering point of sale merchant services, mobile payment solutions, and e-commerce services. In this industry, the company’s main competitors are Chase Paymentech Solutions, PayPal, and MasterCard.
• Global Financial Solutions-
Through this division, the company offer credit services to the bank as well as non-bank issuers. It consists of licensed software systems, retail private-label card processing, and lending solutions.
• Network & Security Solutions-
There are a plethora of solutions offered by this division of the company to the small financial institutions and enterprises. Some of the major solutions offered by this division of First Data include electronic funds transfer, debit card processing solutions, and stored value network solutions.
