Customer Impacts: FirstData CardConnect Acquisition
Arrow Payments provides independent payment technology expertise to help clients leverage the most secure, efficient and cost effective payment processing solutions for each organization's unique business needs.
One of the secure credit card payment technologies we work with is CardConnect. It was recently announced that FirstData is acquiring CardConnect for $750M. As an advocate for our client's best interests, we want to provide a perspective on this situation…
From a service standpoint, CardConnect currently processes all of their customer's payments through FirstData or TSYS. Our understanding is that CardConnect will remain a wholly owned subsidiary of FirstData with the existing management team remaining in place. As a result, we do not foresee any negative impacts to the CardConnect offerings.
In fact, we expect this transaction to make CardConnect even stronger as their operations will be further integrated with FirstData to provide additional financial services. CardConnect is a cutting edge technology leader within PCI Validated P2PE (Point-To-Point Encryption) space. We assume FirstData wanted to aquire the P2PE technology as a competitive advantage to protect more customers against cyber threats and credit card data breaches.
Please email Support@ArrowPayments.com if you have questions or would like to discuss this further.
Here are links for more information about the FirstData acquisition of CardConnect...