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First Data secures major processing contract with Samba Financial Group

Saudi Arabia: Wednesday, May 23 - 2007 @ 15:16

Samba Financial Group is the leading bank in Saudi Arabia and the country’s largest credit card issuer. Under the five year contract, First Data is handling electronic processing for Samba’s credit card portfolio. In addition, First Data is providing the bank with risk management, fraud and behavioural scoring tools, helping to ensure card portfolio growth and profitability.

First Data is committed to the region, with a strong track record of delivering processing services to banks in the Middle East. First Data’s processing platform not only meets its client’s current local needs, but it also offers the flexibility to support their future growth.

George Zafirakis, vice president, with responsibility for First Data’s operations in the Middle East, commented:

“This is a significant win for First Data, extending our market presence in Saudi Arabia and across the region, which we first entered over 12 years ago. We are delighted that Samba is taking advantage of the adaptability and functionality of our VisionPLUS platform, which is a cornerstone of our strategy to deliver processing services across the Middle East, Europe and Africa.”

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Wednesday, May 23- 2007 @ 15:16 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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