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Payments, Banking Technologies, Capital Markets...
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| June 27, 2007 | in: eCommerce |
First Data International reported it has signed a three-year merchant processing agreement with Lenovo, the world’s third-largest PC vendor. First Data will offer its payment processing solutions, from virtually anywhere in the world, to the company’s worldwide Internet consumer and business clients. First Data’s primary banking partner ABN AMRO will serve as the major acquiring bank.
Under the agreement, First Data will handle all e-commerce payment processing for Lenovo. All transactions and authorizations will route through First Data’s global merchant processing platform.
ABN AMRO will provide Lenovo its full suite of transaction banking solutions, including payments, treasury and investment management and trade services.
Lenovo fully migrated to First Data’s platform in March, and the service is already available to Lenovo’s customers.
Legend Group, the previous name of Lenovo, was the largest PC maker in China. In 2005, Lenovo completed the acquisition of IBM’s Personal Computing Division, making it the third-largest personal computer company in the world.