First Data International Appoints Managing Director, Mobile Solutions
DENVER (Jan, 18, 2005) -- First Data Corp. (NYSE: FDC), a global leader in electronic commerce and payment services, today announced the appointment of Nandita Bakhshi as managing director of Mobile Solutions, a new business unit focused on offering mobile payments and related services.
Bakhshi joins First Data from U.S. financial services firm, FleetBoston, and will lead First Data Mobile Solutions, a business unit focused solely on mobile services, including mobile payments, prepaid top-up and mobile content. Her appointment confirms First Data¹s commitment to driving the development of the mobile payments sector.
Bakhshi has extensive experience in the banking industry, having previously held executive level positions at FleetBoston, Home Savings of America and Bank One Corporation. Prior to this role, she served as an executive vice president of consumer deposits and payments at FleetBoston.
"Nandita brings with her significant talent and experience in the payments industry and we¹re extremely pleased to welcome her to First Data," said Pam Patsley, president, First Data International. "Focusing on developing and expanding First Data¹s depth and breath of services to the mobile market, Nandita will actively pursue mobile payments innovations and industry relationships that will grow the business and create significant benefits for our clients."
First Data Mobile Solutions is leading the global development of an interoperable mobile payment standard, working with associated companies, mobile network operators, and merchant acquirers. Through its Encorus processing platform, First Data connects mobile operators and merchants with a universal payment infrastructure that is highly secure and easy to use, while providing consumers with a more convenient, cashless payment alternative. In 2004 Encorus was named a transaction processor to Simpay, the consumer m-payment brand formed by Orange, Telefónica Móviles, T-Mobile and Vodafone, in a multi-year deal covering both Western Europe and the United States.
Additionally, First Data specializes in the management and delivery of innovative electronic products and the provision of electronic payment solutions for the prepaid cellular - or mobile top-up market, as well as the mobile content and mobile entertainment markets.
"Mobile payments is an area of huge growth potential for First Data and I am delighted to have been given an opportunity to work in such a dynamic sector of the industry," said Bakhshi. "The agreement we signed with Simpay in 2004 was extremely significant, giving First Data access to a market of over 230 million consumers, and I look forward to building on these formidable foundations."
About First Data
First Data Corp. (NYSE: FDC), with corporate headquarters in Denver, Colorado (U.S.A.), helps power the global economy. As a worldwide leader in electronic commerce and payment services, First Data provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; and cheque processing and verification services to financial institutions in more than 70 countries on six continents. Its Western Union and Orlandi Valuta money transfer networks include approximately 202,000 agent locations in more than 195 countries and territories. With more than 30,000 employees worldwide, First Data has offices throughout Europe, Asia Pacific, Africa, Latin America and North America. For more information, please visit the company's Web site at www.firstdata.com.
Source: Company Press Release