First Data (FDC)

Forbes  Dec 5  Comment 
Atlanta has a strong fintech scene with companies ranging from big players like First Data to relative newcomers like SME lender Kabbage.
The Economic Times  Dec 2  Comment 
The health ministry had on March 10 decided to ban 344 popular fixed dose combination (FDC) drugs, affecting nearly 6,000 brands, a move that was immediately challenged by several drugmakers.
The Economic Times  Dec 1  Comment 
The high court, while lifting the ban on 344 drugs, had pulled up the government for haphazardly banning the drugs.
The Hindu Business Line  Dec 1  Comment 
Drug companies and health workers have been fighting on opposite sides of the fixed doze combination (FDC) case in the Delhi High Court. But they were unified on one thing. That the final judgment on...
The Hindu Business Line  Dec 1  Comment 
In a blow to the Centre, its decision to ban 344 fixed dose combination (FDC) medicines, including well known brands such as Corex cough syrup, Vicks Action 500 extra and several anti-diabetes medica...
Cloud Computing  Nov 8  Comment 
The seemingly miraculous hand-held devices we use today are a far cry from the computers of old. Capabilities, speed, affordability and storage have increased dramatically, transforming every aspect of our lives. As a point of reference, the first...
Clusterstock  Nov 8  Comment 
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. First Data, the largest US processor, announced Q3 2016 results early Monday . In the quarter, the firm posted a...




 
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First Data

Plastic money and checks have been replacing the real money for many reasons but mostly for convenience. With this great change that has crept into our lives and economy, many credit card processors have established themselves, in the past decades as processor of these financial instrments. These processors, including First Data has been innovative and in keeping with need of of the merchants and credit card holders have been adding to their services other pertinent and relevant services. Aside from Payment Card Processing, services like Check Processing, Money Transfer Services, Point of Sale Services and in some cases Gaming Products and Services have been included and are popular.These processors provide connectivity between the point of sale (POS) at merchant locations and the issuing banks. They receive sales requests, also known as authorizations, when consumers either have their credit cards swiped on a terminal in a retail store or enter their credit card information on an Internet merchant’s web site using a secure payment page. The purchase amount (or transaction) is then routed to the bank that issued the card to confirm the status of the consumer’s credit card account. If approved, the sale is captured and the approval message is sent back to the merchant. Processors earn the fees to do this work. Although the fee is small the progressive use of credit card is making the collective amount of fees to be large.

Next two credit cad processors viz Global Payment and Total Systems Services whaich are quoted in NASDAQ are about 5% in size of First Data in processing. In other segments of services though like money transfer, other organizations like Western Union and Moneygrams may be having larger market share.

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