Under the terms of the agreement, First Data will provide services relating to the issuance of debit, credit and contactless cards by the bank and payment processing services, including switching services and settlement services for domestic and international card transactions. First Data is also responsible for managing the ATM network on behalf of the newly formed financial institution.
In addition, First Data will provide fraud monitoring and ATM network management services. In the coming months, First Data will work with SGB-Bank to implement a 3D Secure system that provides security for internet payments by generating additional authenticating passwords for cardholders.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now