First Data Europe, Europe's largest card transaction processor and subsidiary of First Data Corporation, Saturday announced a long-term contract to provide full cardholder and merchant transaction processing for National Bank of Kuwait, said a press release.
Financial terms of the agreement are not disclosed.
Although First Data Europe has a number of clients in the Middle East, National Bank of Kuwait is their first client in Kuwait. The transfer from in-house processing to the First Data Europe system will take place over the coming months. National Bank of Kuwait will not only benefit from traditional processing services but also enhanced smart card functionality.
Ibrahim Dabdoub, Chief Executive Officer, National Bank of Kuwait, said in the statement “NBK strives to maintain its lead in product and service innovation with the aid of strong partnerships and the use of the latest technology. Our partnership with First Data was motivated by our ongoing commitment to provide world-class service offerings to our customers. We are focused on staying attuned to our customer needs to gain a better understanding of the ways by which we can provide added value to our cardholders,” – Albawaba.com
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