First Data and Sygma Bank Extend Co-operation on Payments
Sygma Bank, a Polish credit card issuer and subsidiary of the LaSer Group, a provider of card and financial services solutions to retailers, has extended its long-standing agreement with First Data Corporation, a payment processor. First Data has supported Sygma Bank with the management of its payment card portfolio since 1999. The services provided by First Data in this four-year contract include the provision of a banking services platform that will provide the bank with an enriched level of information about its card portfolio and a transaction monitoring system that helps to reduce the risk of fraud.
In the next few years Sygma Bank has plans to grow the volumes of cashless payment transactions and migrate its card portfolio to EMV standards. To achieve its goals, the bank has once again chosen an established services provider with unmatched knowledge and experience of the market. In addition to providing fraud monitoring services, First Data will enable information to be exchanged between its payment card processing systems and the bank’s IT systems and serve as a connection between the bank and the card schemes.
“Our co-operation with First Data in Poland provides strong foundations to support the bank’s ambitious plans and reflects our strategy to build alliances with established market leaders with deep experience and product knowledge,” said Jean Remy Martinez, marketing manager of eastern European markets for the LaSer Group.