[June 26, 2017] |
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First Data Introduces Local Payments Solution to Power Cross-Border Global Commerce
The rise of global commerce is creating an increasingly borderless
economy, and businesses need to provide the payment method their
customers prefer, regardless of regional and cultural preferences. To
meet this growing need, today First
Data (NYSE: FDC), a global leader in commerce-enabling technology,
announced the availability of the First Data® Local Payments solution,
which will provide digital businesses and their customers with access to
195 local payment options when fully implemented.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170626006033/en/
(Graphic: Business Wire)
Even in a global, always-on digital economy, payment methods have
remained largely regional and country specific. Trust and security
concerns, cultural preferences, technological limitations, and political
restrictions influence purchasing methods, which vary extensively around
the world.
With First Data's Local Payments solution, a merchant can manage varying
online payment methods through a single interface, using a single
collection model. Now, a retailer can easily enable a customer in Europe
who wants to use a mobile wallet or a customer in Latin America who
prefers making electronic cash payments. Local Payments facilitates
numerous payment methods, including real-time online banking, direct
debit, cash/voucher payments, payment wallets, payout schemes, and more.
"There has been a significant increse in cross-border shopping in
recent years, and while geography is no longer a transactional barrier
for eCommerce, payment methods can be a hurdle. Today, 57% of global
consumers shop across international borders, and separate reports have
indicated that as many as half of these people may end a sale if their
payment choice is not offered," said Shane Fitzpatrick, global head of
eCommerce at First Data. "First Data's Local Payments solution empowers
businesses to accept payments in the methods their customers prefer, all
through a single-source provider, no matter where they are located."
Around the world, many people do not have access to banking services,
which can pose challenges for cross-border transactions. Local Payments
provides greater flexibility for payment acceptance, supporting consumer
choice. The solution enables businesses to accept payments from their
customers in the method they choose, whether they have a bank account or
not. Adding Local Payments through a single integration represents a
sales uplift opportunity for merchants.
The introduction of Local Payments expands First Data's robust eCommerce
portfolio. First Data now offers a range of solutions for businesses of
all sizes, including the recently-announced Global
PFAC Program for payment facilitators and the company's cutting edge Fraud
Detect Solution.
Earlier this year, First Data acquired Acculynk,
a technology company with unique debit routing capabilities that help
merchants reduce their total cost of payment acceptance. First Data's
eCommerce portfolio is available across the First Data client landscape,
from multinational corporations to sole proprietors operating online
stores.
For more information on First Data's eCommerce portfolio, or to learn
more about the Local Payments Solution, please visit firstdata.com/localpayments.
If you are attending Money 20/20 Europe this week, please visit First
Data at booth G36 to learn more about Local Payments and our eCommerce
solutions. First Data's vice president of eCommerce product, Peter
O'Halloran, will also be presenting on Local Payments at Money 20/20 on
Wednesday, June 28.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology and solutions, serving approximately six million business
locations and 4,000 financial institutions in more than 100 countries
around the world. The company's 24,000 owner-associates are dedicated to
helping companies, from start-ups to the world's largest corporations,
conduct commerce every day by securing and processing more than 2,800
transactions per second and $2.2 trillion per year.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170626006033/en/
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