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First Data

 

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FIRST DATA (FDC) Stocks

ABOUT FIRST DATA

? First Data Corporation, an American financial services company, was founded in 1971 and has its official headquarters in Atlanta, Georgia. Its principal executive offices are located in New York City. The company provides domestic debt acceptance through its STAR Network at more than 2 million retail Point-of-Sales (POSs), ATM and online outlets for more than a third of all U.S. debit cards.

The company was founded in Omaha, Nebraska in 1971. At first, it offered processing services to the Mid-America Bankcard Association (MABA). It became the first processor of Visa and MasterCard bank-issued credit cards in the U.S. in 1976.

American Express Information Services Corporation bought 80% of First Data in 1980, and the company was incorporated on April 7, 1989. First Data Corporation spun off from American Express and went public in 1992.

First Data provides a variety of secure funds-transfer and related services such as credit-card payment processing, cheque guarantee (through its subsidiary TeleCheck), fraud protection and authentication, electronic bill payment management and point-of-sale (POS) services.

Today, the company employs more than 22 000 people across its operations.

HISTORY OF FIRST DATA

  • First Data Corporation is in the business of moving money, whether paper, plastic or digital. The company is one of the world’s leading payment processors.
  • First Data serves approximately 6 million merchants and 4 000 card issuers in more than 100 countries. It is involved in merchant alliance partnerships with Wells Fargo and Bank of America. The company handles 45% of all U.S. credit- and debit transactions, as well as prepaid gift-card processing for many U.S. brands such as Starbucks, to name but one.
  • In 2014 alone, the company had an 80% market share in gas and groceries. First Data processes approximately 2 800 transactions per second and handles USUS Dollar 2.2 trillion in card transactions annually.
  • The company’s SpendTrend Report serves as a crucial metric for national news networks such as ESPN, USA Today, WSJ, The New York Times, Bloomberg and Vox Media. First Data’s TeleCheck subsidiary authorizes more than 2.7 billion check transactions valued at USUS Dollar 114 billion annually.
  • The company has also branched out into Internet commerce via partnerships with large online merchants.

VISION & VALUES OF FIRST DATA

  • First Data strives to provide the best technology solutions globally to enable millions of merchants and financial institutions to grow their business.
  • The company embraces innovation and collaboration and believes in being competitive in all the right ways. It continually demonstrates vigilance and integrity, and work ceaselessly to enable growth and add value for clients, partners and shareholders who purchase company shares.
  • It believes in working hard and enjoying the journey to success. First Data never compromises on ethics and complies with the relevant rules and regulations in all of its operations.

MARKET PERFORMANCE OF FIRST DATA

  • First Data Corporation trades on the New York Stock Exchange (NYSE) under the stock symbol “FDC (Class A)”.
  • For the second quarter fiscal 2019, the company reported consolidated revenue of USUS Dollar 2.485 million, an increase of 2%. EBITDA was USUS Dollar 893 million, an increase of 3%.
  • Total borrowings declined USUS Dollar 638 million and net debt declined USUS Dollar 534 million. This solid market performance affords shareholders the confidence to buy or sell company shares in the expectation of sound dividends and returns.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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