First Data to place payment tech in RBL
RBL to introduce innovative features
Commerce-enabling technology, First Data (NYSE:FDC), will help RBL Bank migrate their credit card customers to its latest proprietary VisionPLUS® software providing end-to-end card processing services for the bank.
“We are delighted to form this new alliance with RBL Bank…(which) will be will be leveraging First Data’s next generation payment technology,” said Ivo Distelbrink, Executive Vice President and Head of Asia Pacific for First Data.
RBL Bank is one of India’s fastest growing private sector banks and currently services close to four million customers.
“First Data’s focus is to help clients grow their business with best-in-class platforms, and this alliance with RBL helps deliver on that promise by enabling it to meet the dynamic customer demands of the evolving and complex Indian market,” he said.
“Over the last few years, we have rapidly scaled up our cards business. We are confident that we will be amongst the top five issuers within the next three to five years. As we target new customer segments and geographies, we are happy to partner with First Data for our credit card platform,” said Harjeet Toor, Head of the Retail, Inclusion and Rural Business for RBL Bank.
“We are now able to introduce innovative features for our clients and to scale our transactions on a secure and scalable platform. This gives us the impetus to increase our competitive edge in the market,” Toor said.
In response to India’s march towards a cashless society, First Data’s commitment to continue investing and expanding its business in India is timely as the demand for robust, secure and flexible solutions for cardholders grows exponentially.
In India, First Data serves top national and international banks, corporations, small and mid-sized merchants.
First Data powers a significant portion of all eCommerce transactions in India through the First Data payment gateway.
The company was also the first to introduce multi-payment and digital self-service channels for merchants through mobile applications.
First Data is a global leader in commerce-enabling technology, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world.
The company’s 22,000 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 3,000 transactions per second and $2.4 trillion per year.
RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country. fii-news.com