GlobalCollect merchant get access to First Data regional payment network
Singapore and Malaysia generate 50% of total SEA online retail sales
FIRST Data, which provides payments technology for the financial services industry, and payment service provider GlobalCollect have announced the extension of an alliance that they said would help customers expand into Asia’s rapidly growing e-commerce markets of Singapore, Malaysia and Hong Kong.
First Data Merchant Solutions, First Data’s direct-to-market merchant acquiring business, will support GlobalCollect’s growth in online travel, hospitality and retail operations into Asia, First Data said in a statement.
Marc Mathenz, senior vice president and head of First Data in Asia Pacific, said that the collaborative relationship will provide GlobalCollect’s merchant customers with access to First Data Merchant Solutions’ regional payment network, enabling fast, secure and reliable transactions throughout Asia.
“First Data Merchant Solutions and GlobalCollect both have strong capabilities in payments, and together can offer travel, hospitality and retail industries a full suite of products and services, combined with First Data’s strong, robust and scalable platform,” he said.
Singapore and Malaysia represent the largest e-commerce industries of South-East Asia, generating almost 50% of total online retail sales in the region, despite these two countries accounting for only 8% of the regional population.
The e-commerce volume in Singapore alone is expected to reach US$4.4 billion by 2015, First Data said, citing a report in Asia Briefing magazine.
“This deal broadens an already global partnership between GlobalCollect and First Data that goes back eight years, and further strengthens GlobalCollect’s capabilities in South-East Asia,” said GlobalCollect’s Asia Pacific general manager Mark Patrick.
“We’re seeing a lot of demand for full service acquiring and processing capabilities in Asia Pacific, and with First Data Merchant Solutions’ strong position in Singapore, Hong Kong and Malaysia, we will further enhance our customers’ opportunities to grow into this exciting region,” he added.
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