First Data Corporation (NYSE: FDC) is a financial services company headquartered in Atlanta, Georgia, United States.
The first data consisting of 22,000 co-owners is dedicated to helping local businesses and the world's largest companies trade securely, more than 3,000 transactions per second each day equivalent to $ 2.4 trillion annually.
STAR Network Company provides national domestic debit receipts in over 2 million retail POS, ATMs, and Online outlets for nearly one-third of all US debit cards.
First Data has six million merchants, the largest in the payment industry. The company handles 45% of all US credit and debit transactions, including handling prepaid gift card processing for many US brands such as Starbucks. It processes around 2,800 transactions per second and $ 2.2 trillion in card transactions annually, with an 80% market share in gas and groceries in 2014. The First Data SpendTrend report is the main spending metric for national news networks such as WSJ, USA Today, ESPN, The New York Times, Vox Media and Bloomberg
In October 2015, First Data returned to the public market, selling 160 million shares in the largest IPO on the New York Stock Exchange that year.
The Company has been recognized by the Office of the British Information Commission as one of the companies whose binding corporate rules for data privacy are aligned with EU Data Protection Directives.
Video First Data
Histori
The First Data was established in Omaha, Nebraska in 1971. It began by providing processing services to the Mid-America Bankcard Association (MABA). In 1976, Data One became the first processor of credit cards issued by Visa and MasterCard. In 1980, American Express Information Services Corporation (ISC) bought 80% of First Data. The remaining 20% ​​is purchased in 5% every following year until June 1983. First Data Corporation was established on April 7, 1989.
First Data Corporation split from American Express and became a public company in 1992. In 1995, it joined First Financial Management Corp (FFMC) and was later organized into three major business units serving card issuers, merchants and consumers. Western Union became part of First Data as a result of the merger with FFMC.
Expansion
From 2001 to 2005, the expansion period occurred when First Data acquired companies worldwide and in the US, including, in 2001, the acquisition of PaySys International and its OPTPLUS Payment System. VisionPLUS was followed by a $ 6.6 billion merger with Concord EFS, Inc. in 2004, which added STAR Network and PIN-based debit receipts at over 1.9 million ATMs and retail locations. Additional acquisitions and strategic relationships include GovOne, eONEGlobal, Paymap, Inc., and Taxware. Nevertheless, First Data eventually divest, close or absorb this business.
On January 26, 2006, First Data announced its intention to spin Western Union into a publicly traded public company through a 100% spin-off from Western Union to First Data shareholders. Spin off took place as planned on September 29, 2006.
On April 2, 2007, it was announced that Kohlberg Kravis Roberts (KKR) had signed an agreement to obtain First Data in one of the largest leveraged purchases in history, and on October 1, 2007, the TRC officially took over the First Data Company. Ric Duques retired, and Michael Capellas, formerly CEO of MCI Inc., president of Hewlett-Packard Company, as well as chairman/CEO of Compaq Computer Corporation was appointed CEO. As a private company, First Data shares were taken from the New York Stock Exchange on September 24, 2007. However, the LBO of the company was financed with $ 24 billion in debt, and remained very helpful. In June 2014, First Data raised its historic $ 3.5 billion personal placement. $ 1.2 billion placements come from the TRC; but the majority, $ 2.3 billion, comes from hedge funds, mutual funds, and institutions. With this action the company reduced its total debt by $ 3.3 billion, increasing its net leverage by 1.3 times and significantly reducing its annual cash interest payments. The Company continues to maintain investor relations pages on its website and publish quarterly financial results. Within two months after the acquisition of the KKR, the company laid off 1,700 employees in North America, Europe and Australia, about 6% of its workforce.
First Data provides Go-Tag stickers (contactless and mobile payment technology) to delegates and media representatives at the 2008 Democratic National Convention in Denver, who use them to buy food and drinks. This sticker has an NFC chip read by the First Data scanner, which through its back-end system reduces the purchase amount from the Go-Tag ID balance. First Data also provides trusted service managers who manage accounts to the new Google Wallet mobile system.
First Data entered the Irish market in a joint venture with Allied Irish Banks PLC called AIB Merchant Services on January 18, 2008. First Data also acquired ICICI Bank's merchant service business in 2009 of 4 billion Indian rupees ($ 80 million USD). It also partnered with Bank of America in 2009 to form Bank of America Merchant Services.
First Data and TRC inspect over 60 previous startups, announced in October 2013 that it has acquired POS Clover startup, cellular loyalty startup without a Perka card. and Gyft in 2014.
In March 2010, Joe Forehand took over as temporary chairman and CEO. In September of the same year, Jonathan Judge took on the role until his early retirement in January 2013, after Edward Labry closed the provisional post.
Under Frank Bisignano
In April 2013, the First Data Board announced that former JPMorgan Chase Co-COO Frank Bisignano has been appointed as the company's Chief Executive Officer. In March 2014, Bisignano assumed the role of Chairman. After taking over the office, Bisignano launched an equity ownership plan for all of the first 24,000 data owners.
In 2014, Bisignano promotes important additions to company staff, such as Himanshu Patel, Guy Chiarello, Cindy Armine-Klein, Andrew Gelb, Adam Rosman, Carmen Menendez-Puerto, Joseph Plumeri, Christopher Augustin, and Michael Manos.
In early 2014, the first STAR Data ATM Network adopted the Visa and MasterCard common application IDs for EMV-compliant discharge transactions.
Since joining, Bisignano has been trying to "transform First Data into a new technology provider for small and medium enterprises" . In June 2014, First Data introduced the Insightics solution for small and medium sized businesses. Insightics is a cloud-based software that enables small and medium sized businesses to monitor key business metrics. First Data was created Insightics with Palantir.
In August 2014, First Data expanded its presence in Brazil with Bin, a company-acquired solution developed specifically for the local market. In September 2014, First Data announced it would provide encryption technology for Apple Pay. Apple Pay allows one-touch payments. With its integration into the First Data STAR Network, the company becomes a token service provider, supporting secure POS transactions at Apple Pay. This kind of transaction is used in various places like all McDonald's restaurants in the US.
In October 2014, First Data announced an enhanced TransArmor Solution for small businesses. The First Data TransArmor solution protects payment card data during the transaction process, incorporating multiple security products and compliance into one multi-layered solution.
At the end of 2014, First Data announced a collaboration with Capgemini to develop new solutions based on AccessPLUS and VisionPLUS First Data products, planning to offer new technologies in the second quarter of 2015. The company also announced a partnership with Verifone, where merchants use integrated point sales systems that process payment will have a security option when using a terminal created by VeriFone Systems Inc. In 2015, Samsung announced Samsung Pay cellular system along with First Data. Samsung Pay uses NFC to make payments on POS systems that accept First Data technology.
In February 2015, First Data reported a lucrative first quarter in 29 quarters since the privatization of 2007. In July 2015, First Data acquired Transaction Wireless, a gift card solutions provider. In September of that year, First Data Corporation acquired Spree Commerce, an open source e-commerce platform. Transaction details are not disclosed.
In the largest US IPO of 2015 according to Bloomberg, First Data is planned to find a minimum of $ 2.5 billion, even up to $ 3.2 billion (according to Bloomberg) or $ 3.7 billion (according to Wall) Journal of the Road ). In October of that year, First Data sold 160 million shares for $ 16, after offering them for $ 18 and $ 20. This earned $ 2.56 billion. According to Bloomberg: "Reducing the rate of First Data debt will be an important step for the company as it will free the money to invest in the business".
2016 and 2017
First Data and Alipay announced a partnership in October 2016 to bring Alipay mobile payment processing to the United States. Then in 2017, First Data and Alipay announced the adoption of "point-of-sale" technology, and that Clover would be the first selling point to receive mobile payment methods.
In 2017, First Data announced the launch of their Integrated Solutions Group (ISG), with Edward Jackson leading a new business segment. Then in February, First Data announced its first ISG partner, ShopKeep, a technology company that allows iPad to be used as a cash register. In March 2017, First Data announced the acquisition of Acculynk, an e-commerce technology company focused on debit payments. In May 2017, First Data announced their PFAC Global product, which provides payment facilitators with access to a single integration interface. On May 29, 2017, First Data announced its plan to acquire CardConnect, a payment processing provider that processes approximately $ 26 billion in volume annually, for $ 750 million. On October 20, 2017, First Data announced plans to acquire BluePay, a technology-based payment processor with approximately $ 19 billion in annual volumes, for $ 760 Million.
In June 2017, First Data launched Fraud Detection, which uses artificial intelligence and machine learning, fraud assessment, cybersecurity intelligence, and information from "Dark Web" to identify potentially deceptive transactions.
Expansion in India
The First Data has links to ICICI Bank, India's largest private bank in handling merchant services, ICICI Merchant Services proves domestic and international Merchant accounts to Indian registered companies with bank accounts with ICICI Bank. ICICI First Data Merchant Services offers Secure 3D merchant services along with MOTO Machines to merchants and stores to process payments by credit card.
Maps First Data
Headquarters
While the head office of Data Utama is officially located in Atlanta, Georgia, First Data's main executive office is in New York City.
First Data Headquarters is located in Greenwood Village, Colorado. In 2009, First Data announced that it moved its headquarters from Greater Denver to 5565 Connector Glenridge, NE Atlanta, GA 30342. The original headquarters, where the company remained grounded until 1992, was in Omaha, Nebraska.
Philanthropy
In October 2014, First Data launched First Data Salute. First Data Salutes is a corporate military engagement strategy that aims to help business communities and veteran service members who belong and their families turn to civilian careers.
In November 2014, Bisignano, was awarded the 4th Annual Colonel Heren Colonel Michael Endres Award for Individual Excellence in Veterans Jobs. The award recognizes Bisignano's and First Data's dedication in addressing the challenges faced by veterans and military couples in their search for meaningful work.
From 2014 to 2017, First Data has been designated as "Best Workplace" and earns 100 percent of the Foundation's Annual Human Rights Scorecard on LGBT Workplace Equity.
In 2015, First Data made a seven-year, $ 7 million commitment to the Veterans and Military Family Institute at Syracuse University to fund education, research, training, and other opportunities for the transition of veterans into the business community. The company is listed in 25 Leading Entities from DiversityInc for 2015. In May 2017, First Data was recognized as the # 1 company on the "Best for Vets: Employers 2017" list in the Military Times magazine.
References
External links
- Official website
Source of the article : Wikipedia
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