First Data, the global commerce-enabling technology company, and BlueSnap, a payments technology provider, announced on Wednesday (October 10) a partnership to combine BlueSnap’s All-in-one Payment Platform with the suite of global and local payments solutions offered by First Data.
In a press release, the companies said the partnership will also provide BlueSnap with access to First Data’s distribution partners, with First Data serving as BlueSnap’s primary provider for all acquiring, processing and settlement of payment card transaction and related services. “We are thrilled to bring BlueSnap into our ecosystem of highly secured, diversified global payments solutions,” First Data Chairman and CEO Frank Bisignano said in the press release. “BlueSnap’s platform and services are uniquely suited for medium-sized businesses and combined with access to First Data’s global payment platform and our significant distribution channels, we are confident that BlueSnap will further enhance how businesses accept payments.”
As part of the agreement, First Data and BlueSnap said they will collaborate to roll out BlueSnap’s eCommerce services to First Data’s bank and distribution partners. “As the number of payment methods, integrations, and check-out flows endlessly expand, providing a single platform to consolidate them brings value to business owners looking to analyze their data to make business decisions,” said BlueSnap CEO Ralph Dangelmaier in the same press release. “First Data is the optimal partner because only First Data allows merchants to seamlessly integrate with BlueSnap and with one integration, instantly be connected to dozens of local banks.”
In late July First Data posted results that topped expectations, buoyed by continued traction in its Global Business Services (GBS) segment, and with continued double-digit growth for Clover, its point-of-sale (POS) business.
The general numbers that beat the Street: adjusted earnings per share came in at $0.39, two pennies better than expected, while revenues were $2.5 billion, as compared to consensus of $2.4 billion.
Additional financial data that accompanied the general earnings release showed that the company’s segment revenues were up 6 percent overall, as defined on an organic constant currency basis, to $2.2 billion. Breaking that down a bit, GBS was up 8 percent on the same organic basis, with that segment at the largest contributor to the top line, at $1.4 billion. Growth in other segments stood in the low single digits, with Global Financial Services (GFS) up 4 percent to $414 million, and Network and Security Solutions showing 3 percent growth to $371 million.
Source: PYMNTS
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