First Data Signs Deal with RBL Bank to Provide Card Processing Services
First Data (NYSE:FDC), a global leader in commerce-enabling technology, today announced a new partnership with RBL Bank, one of India’s fastest growing private sector banks which currently services close to four million customers. Under the agreement, First Data will help RBL Bank migrate their credit card customers to its latest proprietary VisionPLUS® software providing end-to-end card processing services for the bank.
“We are delighted to form this new alliance with RBL Bank. Through this partnership with First Data, RBL will be leveraging First Data’s next generation payment technology,” said Ivo Distelbrink, Executive Vice President and Head of Asia Pacific for First Data. “First Data’s focus is to help clients grow their business with best-in-class platforms, and this alliance with RBL helps deliver on that promise by enabling it to meet the dynamic customer demands of the evolving and complex Indian market.”
“Over the last few years, we have rapidly scaled up our cards business. We are confident that we will be amongst the top five issuers within the next three to five years. As we target new customer segments and geographies, we are happy to partner with First Data for our credit card platform. We are now able to introduce innovative features for our clients and to scale our transactions on a secure and scalable platform. This gives us the impetus to increase our competitive edge in the market,” said Harjeet Toor, Head of the Retail, Inclusion and Rural Business for RBL Bank.
In response to India’s march towards a cashless society, First Data’s commitment to continue investing and expanding its business in India is timely as the demand for robust, secure and flexible solutions for cardholders grows exponentially.
In India, First Data serves top national and international banks, corporations, small and mid-sized merchants. First Data powers a significant portion of all eCommerce transactions in India through the First Data payment gateway. The company was also the first to introduce multi-payment and digital self-service channels for merchants through mobile applications.
To learn more about First Data’s VisionPLUS solution, visit here.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 22,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 3,000 transactions per second and $2.4 trillion per year.
About RBL Bank
RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country. The Bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agribusiness Banking, Development Banking and Financial Inclusion, Treasury and Financial Markets Operations. It currently services over 3.98 million customers through a network of 246 branches, 188 Banking Outlets (BOs), 757 BC branches (including BOs), 100,017 Customer Service Points and 394 ATMs spread across 20 Indian states and Union Territories.
Over the last few years, RBL Bank has earned recognition in various national and international forums such as : CNBC ASIA’s India Talent Management Award (2017); ‘India’s Best Bank (Growth)’ in the ‘Small-Sized Bank Segment’ by Business Today-KPMG Best Bank Study for six consecutive years (2012-17); Business World’s ‘Best Growing Small Bank’ consistently for four years (2013,2014,2015,2017) and recognized by the World Economic Forum as a ‘Global Growth Company’ (GGC). RBL Bank is listed on both NSE and BSE (RBLBANK).
Further Details: www.rblbank.com