US Giant Makes Australia Home

MINISTER FOR FINANCIAL SERVICES AND REGULATION

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NO. FSR/034

U.S. GIANT MAKES AUSTRALIA HOME

The Minister for Financial Services & Regulation, Joe Hockey, today announced that a major US company, First Data Corporation, will spend $20 million setting up its Asia Pacific Regional Data Processing Centre in Australia and establish a new credit card account processing business here.

"First Data is one of the world's largest players in the electronic transactions market. This is a significant vote of confidence in Australia as a centre for global financial services," the Minister said.

"This decision will mean up to 250 jobs in information technology and customer support roles over the next five years."

First Data will undertake data processing for electronic funds transfer via ATMs, EFTPOS, debit/credit card transactions; e-commerce; person-to-person money services; phone banking and bill payment services; the issuing and acquiring functions for credit card operations; and call centre activities.

"This decision is an acknowledgment of Australia's significant competitive advantages. These include the availability of skilled personnel in the Australian workforce and our excellent telecommunications infrastructure."

Located in Sydney, First Data's Asia Pacific Regional Data Processing Centre will service Australia, China, Hong Kong, Indonesia, Japan, New Zealand, Malaysia, the Philippines, Singapore and Thailand.

First Data Resources Australia has become the country's largest, independent provider, handling more than 400 million transactions a year on behalf of clients such as the major banks, credit unions, governments, large retailers and utilities providers.

Invest Australia worked with First Data in Australia and the US to secure the investment, despite strong competition from other major centres in the Asia Pacific.

16 July 1999

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