First Data International, a global leader in electronic commerce and payment services, has completed the acquisition of Polcard SA, Poland's leading independent merchant acquirer and card processor.
By acquiring POLCARD, First Data is now strongly positioned in Poland, a market with an expanding payments infrastructure and significant growth potential. The Polish economy is rapidly growing, and total payment cards increased by 58 percent between 2003 and 2006(a). POLCARD has a significant presence in the Polish merchant acquiring space, which complements First Data's current scope of product and service offerings in Central Europe. First Data will apply its sophisticated global payments expertise and services portfolio to the benefit of Polish banks and merchants while gaining an important entry point to other major markets in the region.
The acquisition also positions First Data to support multinational merchants and financial institutions extending their presence across Central and Eastern Europe, and it further expands the comprehensive infrastructure that First Data is putting in place to facilitate the requirements and regulations of the Single European Payments Area.
As a result of the transaction, POLCARD's 245 employees will join First Data International. David Yates, president, Europe, Middle East and Africa, First Data International, said: "We are very pleased to complete the acquisition of POLCARD, and are excited to welcome the company's skilled and knowledgeable workforce to the First Data family. Together, we will focus on delivering value and service excellence to our clients in Poland, and will expand our service offering into adjacent markets across the region."
(a) Source: National Bank of Poland