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Standard Chartered PLC and First Data Launch Merchant Solutions

Tuesday November 20 2:35 AM

Standard Chartered PLC (Standard Chartered) and First Data Corp., a global leader in electronic commerce and payment services, today announced they have completed their transaction to jointly establish Merchant Solutions, which will provide acquiring services to merchants, initially across Asia, with plans to further expand around the world.

Headquartered in Singapore with subsidiaries throughout Asia, Merchant Solutions will support Standard Chartered Bank's merchant clients with an expanded range of First Data products and services for debit and credit cards, as well as additional forms of electronic payments such as e-commerce and contactless and prepaid card acceptance. Merchant Solutions will initially deliver payments solutions to Standard Chartered merchant clients throughout Asia in India, Bangladesh, Brunei, Hong Kong, Malaysia, Macau, Singapore and Sri Lanka and sales related services for internationally issued card acceptance in China, with plans to expand to additional markets within Asia and the Middle East.

"Merchant Solutions builds on Standard Chartered's strong existing customer relationships in the region, and First Data's extensive global merchant acquiring expertise," said Sean Hesh, CEO and managing director, Merchant Solutions. "These initial countries represent significant opportunities in the acquiring market, and we look forward to working with merchants to help them provide a full range of payment services and increase efficiencies as these markets grow."

Merchant Solutions, will comprise 56 percent ownership held by First Data and 44 percent by Standard Chartered, through its wholly-owned subsidiary, Standard Chartered Bank (Hong Kong) Limited. Sean Hesh will lead Merchant Solutions as its CEO and Managing Director; supported by a board of five members appointed from both First Data and Standard Chartered Bank that include: Thomas J. McCabe, global head of product management and development for transaction banking services, Standard Chartered Bank; Sherazam Mazari, global head consumer lending, Standard Chartered Bank; Nigel Lee, president, Asia Pacific, First Data and Robert Schimenz, SVP, corporate systems, First Data.

About First Data

First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses worldwide. With operations in 38 countries, First Data serves over 5 million merchant locations, 1,900 card issuers and their customers. It powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; receivables management 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 2.1 million ATM and retail locations. For more information, visit www.firstdata.com.

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank in its markets by being the right partner for its stakeholders and leading by example. The group now employs over 60,000 people, representing some 100 nationalities, in more than 1,400 branches located in over 50 countries. The bank generates more than 90 per cent of its profits from Asia, Africa and the Middle East, with balanced income derived from both Wholesale and Consumer Banking.

The group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity.

For more information, please visit: www.standardchartered.com

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Contact:

First Data Media Contacts:
Singapore:
Jasmine Ee, Orion, +65 6844 1223
jasmine@orionworldwide.net
or
United States:
Cara Taylor, +1 303 967 6367
Cara.taylor@firstdata.com
or
China:
Uhi Hui, PR People, Tel: +85228680548
Uhi.hui@pr-people.com

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