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First Data Hardware in Merietta Ga

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American payments company

First Data Corporation
Type Subsidiary
Industry Financial services
Founded 1971; 51 years agone  (1971), in Omaha, Nebraska, U.S.
Headquarters Atlanta, GA, U.S.

Key people
  • Patricia Ramos (Old CEO)
  • Himanshu A. Patel (CFO)
Products Merchant services
Revenue Increase Us$ 12.05 billion (2017)

Operating income

 Increase U.s.a.$ one.71 billion (2017)

Internet income

 Increase Usa$ 1.47 billion (2017)
Full avails Increase US$ 48.27 billion (2017)
Total disinterestedness Increase US$ 6.01 billion (2017)

Number of employees

 22,000 (2017)
Parent Fiserv
Website FirstData.com
Footnotes / references
[ane] [ii]

First Information Corporation is a financial services visitor headquartered in Atlanta, Georgia, United States. The company's STAR Network provided nationwide domestic debit acceptance at more than two meg retail POS, ATM, and Online outlets for virtually a 3rd of all U.South. debit cards.

Get-go Information has half-dozen 1000000 merchants, the largest in the payments manufacture.[3] The company handles 45% of all United states credit and debit transactions, including handling prepaid gift card processing for many U.s.a. brands such as Starbucks.[three] [4] It processes around 2,800 transactions per second and $2.2 trillion in card transactions annually,[5] with an 80% market share in gas and groceries in 2014.[vi] First Data's SpendTrend Report is a central shopping metric for national news networks such as WSJ, Usa Today, ESPN, The New York Times, Vocalization Media,[seven] [viii] [9] [10] and Bloomberg.[xi]

In October 2015, First Data returned to public markets, selling 160 million shares in the New York Stock Exchange's biggest IPO of that yr.

On Jan 16, 2019, Fiserv announced a deal to learn Offset Data in all-stock deal with equity value of $22 billion. Fiserv completed the acquisition of First Data on Monday July 29, 2019.[12]

History [edit]

In 1969, the Mid-America Bankcard Association (MABA) was formed in Omaha, Nebraska, as a non-profit bankcard processing cooperative. 2 years later, Start Data Resource (FDR) was founded in Omaha, Nebraska in June 1971.[13] Information technology started off past providing processing services to the Mid-America Bankcard Association (MABA). In 1976, First Data became the get-go processor of Visa and MasterCard bank-issued credit cards. In 1980, American Express Information Services Corporation (ISC) bought lxxx% of First Data. The remaining twenty% was purchased in 5% increments each subsequent year until June 1983. First Data Corporation was incorporated on April 7, 1989.[ citation needed ]

First Data Corporation was spun off from American Limited and went public in 1992. In 1995, the company merged with Beginning Financial Direction Corp. (FFMC) and was then organized into iii major business concern units serving card issuers, merchants and consumers. Western Matrimony became part of Beginning Data as a result of the merger with FFMC.[ citation needed ]

Expansion [edit]

From 2001 through 2005, a period of expansion occurred as First Data acquired companies effectually the globe and in the US, including, in 2001, the acquisition of PaySys International and their VisionPLUS Payment Software System. VisionPLUS was followed by a $6.6 billion merger with Concord EFS, Inc. in 2004, which added the STAR Network and PIN-based debit acceptance at more than 1.9 1000000 ATM and retail locations. Additional acquisitions and strategic relationships included GovOne, eONEGlobal, Paymap, Inc., and Taxware. Nevertheless, First Data somewhen divested, closed down or absorbed these businesses.

On January 26, 2006, First Data announced its intention to spin off Western Spousal relationship into an independent publicly traded company through a tax-gratuitous spin-off of 100% of Western Union to First Information shareholders. The spin off occurred as planned on September 29, 2006.[fourteen]

On April 2, 2007, it was announced that Kohlberg Kravis Roberts (KKR) had entered an agreement to acquire First Data[15] in one of the largest leveraged buy-outs in history,[16] and on October i, 2007, KKR officially took over the Get-go Information Corporation. Ric Duques retired, and Michael Capellas, previously the CEO of MCI Inc., the president of Hewlett-Packard Company, and also the chairman/CEO of the Compaq Computer Corporation was appointed CEO. Every bit a privately owned visitor, First Data's stock was taken off the New York Stock Substitution on September 24, 2007. However, the visitor's LBO was financed with $24 billion in debt, and information technology remains heavily leveraged.[16]

In June 2014, Outset Data raised a celebrated $3.v billion individual placement. $1.2 billion of the placement came from KKR; however the majority, $2.three billion, was from hedge funds, common funds and institutions.[17] With this action the company reduced full debt past $3.3 billion, improving cyberspace leverage by 1.3 turns and significantly reducing almanac cash interest payments.[18] [19] The company continues to maintain investor relations pages on its web site and to publish quarterly fiscal results. Within ii months of the KKR acquisition, the company laid off 1,700 employees across Due north America, Europe and Commonwealth of australia, well-nigh six% of its workforce.[20]

Starting time Data provided Get-Tag (contactless and mobile payment technology) stickers to delegates and media representatives at the 2008 Autonomous National Convention in Denver, who used them to buy food and beverages. These stickers possessed NFC chips which were read by Showtime Data scanners, which through its back-end system deducted the buy sum from the Go-Tag ID's balance.[21] [22] First Data provided the trusted service manager that provisioned accounts to the new mobile Google Wallet system.[23] [24]

Starting time Data entered the Republic of ireland marketplace in a articulation venture with Allied Irish Banks PLC named AIB Merchant Services on January 18, 2008.[25] First Data also caused ICICI Bank'southward merchant services business in 2009 for iv billion Indian rupees (United states of america$80 million).[26] It as well partnered with Bank of America in 2009 to form Bank of America Merchant Services.[27]

First Data and KKR vetted more than threescore startups before, in Oct 2013, announcing it had caused POS startup Clover,[28] cardless mobile loyalty startup Perka,[29] and Gyft in 2014.[thirty]

In March 2010, Joe Forehand took over as chairman and interim CEO.[31] In September that same year, Jonathan Judge causeless those roles until his early retirement in Jan 2013,[32] later on which Edward Labry covered the interim post.[33]

Under Frank Bisignano [edit]

In Apr 2013, First Data's Lath of Directors announced that erstwhile JPMorgan Chase Co-COO Frank Bisignano had been named Chief Executive Officer of the visitor. In March 2014, Bisignano assumed the function of Chairman.[34] Upon taking part, Bisignano launched an disinterestedness ownership plan for all 24,000 of Kickoff Data owner-associates.[35]

In 2014, Bisignano promoted notable additions to the company'southward staff, such every bit Sanjiv Das, Himanshu Patel, Guy Chiarello, Cindy Armine-Klein, Andrew Gelb, Adam Rosman, Carmen Menendez-Puerto, Joseph Plumeri, Christopher Augustin and Michael Manos.[36] [37] [38] [39] [40]

In early 2014, Start Data'southward STAR ATM Network adopted the Visa and MasterCard common application IDs for EMV-compliant debit transactions.[41]

Since joining, Bisignano has tried to "transform Outset Data into a provider of new technology for pocket-size- and medium-sized businesses".[17] In June 2014, Starting time Data introduced the Insightics solution for pocket-sized and medium size businesses. Insightics is a deject-based software that enables small and medium size businesses to monitor key business organization metrics.[42] [43] Get-go Data created Insightics with Palantir.[17]

In August 2014, First Data expanded its presence in Brazil with Bin, the visitor'south acquiring solution developed specifically for the local market.[44] In September 2014, Offset Data appear it would provide encryption technology for Apple Pay.[17] Apple Pay allows payment with a single bear upon. With its integration into First Data's STAR Network, the company became a token service provider, supporting rubber POS transactions in Apple tree Pay. Such transactions are used in venues such every bit all McDonald's restaurants in the U.s..[45]

In Oct 2014, First Information announced the Enhanced TransArmor Solution for modest businesses. First Data'due south TransArmor Solution protects payment carte information throughout the transaction process, incorporating several security and compliance products into 1 multi-layered solution.[46]

In late 2014, Start Data announced its collaboration with Capgemini to develop new solutions based on Offset Information's AccessPLUS and VisionPLUS products, planning to offering new technologies in the second quarter of 2015.[47] The company as well announced its partnership with Verifone, wherein merchants using integrated indicate-of-auction systems that process payments will have a security selection when using terminals made past VeriFone Systems Inc.[48] In 2015, Samsung announced its Samsung Pay mobile arrangement in conjunction with First Data. Samsung Pay uses NFC to brand payments at POS systems that accept First Information's technology.[49]

In February 2015, First Data reported its first assisting quarter in 29 quarters since its 2007 privatization.[50] In July 2015, Kickoff Data acquired Transaction Wireless, a provider of souvenir carte du jour solutions.[51] In September that year, First Data Corporation acquired Spree Commerce, an open source e-commerce platform. Details of the transaction were not disclosed.[52]

In the biggest U.S. IPO of 2015 according to Bloomberg, First Information planned to seek a minimum of $ii.5 billion, even upwards to $iii.2 billion (according to Bloomberg) or $3.7 billion (according to the Wall Street Journal).[53] [54] [55] In October that year, First Information sold 160 million shares for $16 apiece, after offer them for $18 and $20.[56] It raised $2.56 billion. According to Bloomberg: "lowering Kickoff Data's debt level will exist an important stride for the company considering it will gratis up money to invest in the business".[57]

2016 and 2017 [edit]

Kickoff Data and Alipay appear a partnership in October 2016 to bring Alipay's mobile payment processing to the United States.[58] Later in 2017, First Information and Alipay announced the implementation of the "point-of-auction" technology,[59] and that Clover would be the first point-of-sale to accept the mobile payment method.[sixty]

In 2017 Offset Data announced the launch of their Integrated Solutions Grouping (ISG), with Edward Jackson to lead the new business segment.[61] Later on that February, First Data appear its kickoff ISG partner, ShopKeep, a engineering company that allows an iPad to be used every bit a cash register.[62] In March 2017 Offset Data announced the acquisition of Acculynk, an ecommerce technology company focused on debit payments.[63]

In May 2017 First Data appear their Global PFAC product, which provided payment facilitators with access to a single integration interface.[64] On May 29, 2017 Start Data appear its plans to learn CardConnect, a provider of payment processing which processed approximately $26 billion of volume annually, for $750 million.[65]

In June 2017, Kickoff Data launched Fraud Observe, which uses artificial intelligence and machine learning, fraud scoring, cybersecurity intelligence, and information from the "Dark Web" to identify potentially fraudulent transactions.[66] On October 20, 2017, Outset Data appear plans to learn BluePay, a engineering science-enabled payment processor with about $19 billion in annual volume, for $760 Million.[67]

Expansion in India [edit]

First Data has the tie up with ICICI Depository financial institution, India'southward largest private bank in the dealing of merchant services, ICICI Merchant Services is proving the domestic and international Merchant account to Indian registered companies having a bank account with ICICI Bank. ICICI Merchant Services with First Data is offer 3D Secure merchant services forth with MOTO Machine to merchant and shop to process payment past credit card.

Acquisition/Merger [edit]

On Jan sixteen, 2019, First Data announced it would exist acquired by Fiserv in an all stock transaction valued at $22 billion. The deal was scheduled to be finalized in the second half of 2019.[68] Fiserv completed the conquering of First Data on July 29, 2019.[12]

Headquarters [edit]

First Data's original headquarters, where the visitor remained based until 1992, were in Omaha, Nebraska. First Data's headquarters were located in Greenwood Village, Colorado.[69] [70] In 2009 First Data announced that it was moving its headquarters from Greater Denver to Atlanta.[71] While the official Start Data headquarters are located in Atlanta, Georgia,[72] [73] Kickoff Data's principal executive offices are in New York Metropolis.

Philanthropy [edit]

In October 2014, Starting time Data launched First Data Salutes. Start Data Salutes is the company-wide military engagement strategy aimed at helping the veteran-owned business organization community and service members and their families transitioning to noncombatant careers.[74]

In 2015, First Information fabricated a seven-year, $vii million delivery to the Institute for Veterans and Military Families at Syracuse University to fund education, research, grooming and other opportunities for transitioning veterans entering the business concern customs.[75] The company was listed on DiversityInc's 25 Noteworthy Companies for 2015.[76] In May 2017 First Information was recognized as the #1 company on the Military Times annual "Best for Vets: Employers 2017" list.[77]

References [edit]

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  2. ^ "Get-go Data Corporation 2017 Quarterly Report, Q3 2018 (Form 10-Q)". U.Southward. Securities and Substitution Committee. October 31, 2018. Retrieved November 25, 2018.
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  58. ^ Alipay, Mainland china's top mobile payment service, expands to the U.South. TechCrunch
  59. ^ Start Data to Ability Alipay in North America First Data
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  64. ^ Payment Processor First Information to Buy CardConnect for $750 Million The New York Times
  65. ^ Fraud Detect
  66. ^ Linnane, Ciara. "First Data to acquire BluePay for $760 million in greenbacks". MarketWatch . Retrieved 11 Dec 2017.
  67. ^ Systems, eZ. "Fiserv to Acquire First Data in $22 Billion Deal / Fresh Today / CUToday.info - CU Today". CUToday . Retrieved 2019-01-17 .
  68. ^ "Contact Us". firstdata.com. Archived from the original on 19 June 2000.
  69. ^ "City Boundary Map". Metropolis of Greenwood Village. Retrieved December nine, 2009.
  70. ^ "Start Information moving HQ to Atlanta". Denver Business organisation Journal.
  71. ^ "Metropolis Council Districts" (PDF). Metropolis of Sandy Springs. Archived from the original (PDF) on Jan 17, 2010. Retrieved July iv, 2009.
  72. ^ "Contact". Archived from the original on 2009-12-13. Retrieved 2009-12-09 .
  73. ^ "(Press Release) U.S. Bedchamber of Commerce Foundation Announces 4th Almanac Hiring Our Heroes Honor Winners". US Chamber of Commerce Foundation. 13 November 2014. Retrieved 12 February 2015.
  74. ^ Botnick, Mark. "First Data Chairman and CEO Frank Bisignano Announces $vii One thousand thousand Partnership with the Institute for Veterans and Military Families Housed at Syracuse University". Syracuse Academy . Retrieved 16 October 2015.
  75. ^ "DiversityInc'south 25 Noteworthy Companies". DiversityInc. Archived from the original on 22 Oct 2015. Retrieved 16 October 2015.
  76. ^ All-time for Vets: Employers 2017 Military Times

External links [edit]

  • Official website
    • Historical concern data for First Information Corporation:
    • SEC filings

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