First Data to Start Card Payment JV with WestLB in Europe
- German bank WestLB and US payment processing outfit First Data are teaming up to launch a new business dedicated to providing card acceptance services to retailers across Europe. The partners are setting up First Merchant Solutions for SEPA
- First Data says Sepa's launch means the retail sector needs a valid, cross-border card acceptance agreement that lets merchants benefit from greater efficiency, more competitive pricing and the assurance of settlement and payment flow to any account in the region.
- The venture will see WestLB provide the licenses and payment services infrastructure with First Data offering a range of merchant acquiring services. The services will be offered in 38 countries and territories across Europe.