Riyadh upgrades card system

First Data International, a provider of electronic commerce and payment services, has moved Riyad Bank’s credit card portfolio to First Data’s VisionPlus processing platform. The project is underpinned by the renewal of First Data’s processing contract with Riyad Bank for five additional years.

During this period, First Data will process both Visa and MasterCard credit card portfolios for Riyad Bank, as well as provide secure PIN print and mail services to the bank’s customer base. Plans are also underway to support a new Islamic card product.

“We are pleased to strengthen our long-term co-operation with First Data with this significant conversion,” said Adnan Al-Joyan, senior vice president, retail banking services, Riyad Bank. “The new platform will enable Riyad Bank to offer an extended suite of financial services products and will support new customer acquisition and cross-selling to our existing customers.

“We are dedicated to delivering first-in-quality and first-in-value services in Saudi Arabia, and First Data is the partner we can trust to provide reliable, high quality services that enable us to deliver what we promise to our clients.”

First Data serves around 4.6 million merchant locations and 1700 card issuers. Its portfolio includes card and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; and Internet and mobile solutions.

George Zafirakis, VP for Southern Europe, Middle East and Africa, said: “More and more customers in this region recognise the benefits of our robust processing platform in helping them to improve customer management, operational efficiency and risk management. We are delighted that Riyad Bank, a long-term client, continues to entrust its important processing services to our organisation. Conversion of a major card portfolio is always a significant and challenging exercise and the success with which this has been achieved demonstrates the strength of our partnership with Riyad Bank.”

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