Australian financial services firm, Suncorp, has announced a seven-year technology outsourcing contract with First Data. First Data will manage Suncorp's credit card merchants. The development will allow Suncorp, a relatively recent entrant in the market of Visa and MasterCard transactions, to offer merchants around the clock payments processing. In a broader sense, this long-term contract indicates that while shorter and more detailed outsourcing contracts are becoming en vogue in the United States, in some nations such as Australia, longer-term broader contracts still prevail. Computer Business Review Online Reports:
"Our OmniPay technology platform and processing solution is designed to actively manage the entire merchant acquiring payment processing cycle, delivering the power, functionality and compliance that acquirers and merchants demand," said Peter Blackett, vice president of marketing and product managment, First Data International - Australia, New Zealand and South Asia.
Read More: Suncorp signs seven-year outsourcing agreement with First Data

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