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First Data partners Silicon Valley Bank to facilitate payments for bank`s clients

Thursday 30 June 2016 | 10:41 AM CET

First Data, a commerce enabling technology and solutions company, has partnered with Silicon Valley Bank to facilitate payment acceptance for the bank’s clients.

This expanded relationship builds on the existing card processing relationship between First Data and SVB to include borderless commerce solutions for SVB’s business clients across geographies and a variety of industries, including technology, life sciences, venture capital, private equity, and the wine industry. SVB accepts payments in 140 currencies and 160 countries around the world with the capability to fund its clients in 17 currencies including GBP, EUR, USD, CAD and JPY.

SVB Global Merchant Services will provide SVB’s clients access to First Data’s ecommerce solution, a payments offering for mobile devices and international borders. The solution includes a payment gateway for web and mobile commerce applications and Clover Security, First Data’s payment card solution that combines encryption with tokenization to protect businesses from data breaches.

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