Secure electronic transaction solutions provider Keycorp Limited has won an $11 million deal over five years to provide managed payment services to First Data Resources Australia Ltd.
Keycorp will provide Eftpos terminals and maintenance services to company which is part of First Data International, a provider of electronic commerce and payment services.
As part of the agreement, First Data's existing Eftpos terminals will be replaced, over time, with new terminals and software.
Keycorp will manage, support, and assist First Data to grow the fleet of terminals as well as maintaining some existing terminal systems.
In addition, Keycorp will provide First Data with a comprehensive merchant support helpdesk.
It is Keycorp's third major managed payment services contract and follows the multi-year agreements with Westpac and the Bank of Queensland.
Keycorp CEO, Ken Carr, said the deal fits with the company's strategy of transitioning the business into a payments solutions provider.
"By taking over the task of managing terminals, Keycorp and First Data will work together to provide the best in electronic commerce and payment solutions for businesses across Australia," he said.
First Data A/NZ managing director, Peter Wright, said the company is constantly looking for way to improve services to merchant customers.
"This agreement allows us to concentrate on our core competencies and let Keycorp, an expert in its field, manage our fleet of Eftpos terminals," Wright said.
First Data has 7900 employees serving over five million locations, 1900 card issuers and their customers.