Dubai, March 10, 2008: First Data Corp., a global leader in electronic commerce and payment services, today announced the successful launch of Bank Alfalah's new MasterCard offering on First Data's VisionPLUS® processing platform. Bank Alfalah is the largest credit card issuer and a leading merchant acquirer in Pakistan, and First Data's first client in this important consumer finance market.

Bank Alfalah's existing card and merchant portfolio will soon be migrated to the First Data platform, enabling the bank to offer an extended suite of financial services products to its valued customers, with state-of-the-art risk and fraud management solutions.

The swift and successful launch of Bank Alfalah's MasterCard portfolio demonstrates First Data's ability to manage significant assignments across the globe and underlines the wealth of experience the company brings as a trusted service provider to the world's leading financial institutions.

Mr. Adil Rashid, Group Head Consumer Finance, Bank Alfalah, said "It is definitely remarkable to be able to use the hosting services of such a well regarded service provider as First Data. Bank Alfalah is a very fast growing financial institution and will be able to benefit from First Data's services not only in Pakistan but also in other countries where we are expanding our business."

"We are thrilled to have secured such a significant card issuer and acquirer as our first client in the country," said Brian Quarrie, Vice President, First Data Middle East, "and to have made a good start in this important new relationship. With our global expertise and experience I am confident we will be able to add significant value to Bank Alfalah's international expansion plans."

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About First Data
First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses worldwide. With operations in 38 countries, First Data serves over 5 million merchant locations, 1,900 card issuers and their customers. We power the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; receivables management solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce, loyalty and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2.1 million ATM and retail locations. For more information, visit www.firstdata.com.

About Bank Alfalah
Bank Alfalah Visa credit card was launched in Pakistan in February 2003 and the bank is now the market leader with 586,000 Visa credit and 266,000 Visa debit cards, satisfying a larger customer base than any other issuer in Pakistan. With an extensive network of over 200 branches across all major cities, Bank Alfalah has catered for a huge potential market and the product positioning of "FREE FOREVER" ensures no annual fee will be charged to the cardholder. Numerous facilities are being offered on the cards including 24 hour utility bill payments, an exciting Rewards programme, Platinum cards for high net worth customers, SMS Alerts facility for each transaction, payment or any other activity on credit cards and unique insurance plans for children's education and life insurance. The bank has also catered for the cards acquiring business, resulting in unmatched expansion of the electronic cards acceptance business in the country with 21,000 machines installed countrywide in two years. An instant installment plan is also incorporated in the acquiring business, whereby Bank Alfalah cardholders can convert any transaction conducted at Bank Alfalah merchants to easy installments of 6 to 36 months at the time of transaction. Recently the cards business has also been expanded to Afghanistan, with Bank Alfalah being the first issuer there.

For further information, please contact:
Nicholas Nesson / Gunjan Chaurasia
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4 3344550
Fax: 971-4-3356080
Email: n.nesson@asdaa.com / g.chaurasia@asdaa.com 
 

© Press Release 2008