First Data is a provider of electronic commerce and payment solutions, and the company's chief rival is TSYS. The company's portfolio includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at ATM and retail locations.
The company also began to see significant growth in its network of Western Union agent locations. This set the stage for First Data to become a leading global provider of electronic commerce and payment solutions to businesses and consumers worldwide.
Source: Wikipedia > First Data
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