Processing Agreement Extends First Data's Reach into Pakistan

First Data International, a leader in electronic commerce and payment services around the world, has signed a card processing agreement with Alfalah Bank, the largest credit card issuer and largest merchant acquirer in Pakistan. Through this agreement, First Data extends its reach into Pakistan and provides further evidence of the company’s commitment to building a global presence in support of its financial and retail clients.

Under the five-year agreement, First Data will provide credit card and acquirer processing services to Alfalah Bank, in support of the bank’s current 325,000 card accounts and 17,000 merchants in Pakistan. Additionally, First Data will support Alfalah’s international growth as the bank extends its business across southwest Asia over the next few years. Client services support will be provided from First Data’s offices in Dubai.

Adil Rashid, executive in charge, credit cards, Alfalah Bank, said: "Through the rich functionality of its VisionPLUS® processing platform, First Data brings us the tools and capabilities to manage our card portfolio as it grows, with the fraud and risk management support we will need. We will also benefit from the company’s global payments expertise and experience as we enter new markets."

David Yates, president, Europe, Middle East and Africa, First Data International, commented: "Alfalah is one of the most significant card issuers and acquirers in the region, and we are delighted to secure the bank as our first client in Pakistan. Credit card usage is increasing across the country and the bank is seeing real opportunities to expand its business, locally and internationally. We, in turn, continue to extend our footprint, marrying our global capabilities with a local presence and market understanding, to serve the needs of our clients."