First Data Corporation FDC, the commerce-enabling technology company, entered into a partnership with AccorHotels to enable hassle free and smooth global and cross-channel payments.
AccorHotels Group is the world’s leading hotel operator in travel and lifestyle. It offers services in more than 4,200 hotels, resorts, residences and in more than 10,000 private residences worldwide.
We observe that First Data has outperformed the industry it belongs to on a year-to-date basis. The company’s shares have gained 17.7% compared with the industry’s growth of 7.1%.
Deal Details
Per the deal, First Data’s advanced payment solutions system can be used to facilitate mobile as well as online payment transactions for AccorHotels’ customers.
Based on the new Nexo standard protocols, First Data will also provide a Nexo central acceptance platform for AccorHotels.
In general, Nexo platform offers a series of international standards to overcome the interoperability hurdles between card acceptance and acquiring solutions that exist in today’s world. The adoption of Nexo helps in saving costs by reducing payment processing charges, reduces implementation time, and significantly improves the purchasing negotiation position.
Therefore, with the Nexo host, First Data will enable AccorHotels to manage all their point-of-sale devices and eCommerce transactions from one central location. It will enable fast and borderless payments due to standardization of payment exchange policies.
It does not end here. In order to give the customers asecure payment experience, First Data will also provide tokenization services for AccorHotels. Its tokenization solutions will provide security and protect cardholder data during any transaction, thus avoiding all kinds of data fraud.
Our Take
Strategic partnerships are the most important part of First Data’s growth program. First Data continues to maintain its leading position in bank-acquiring channel through strategic partnerships.
We see the new move as First Data’s way of increasing its presence globally. The company’s business segments are designed in a manner that supports global expansion. Appropriate segmentation of business allows the company to strengthen its global client base and further globalize its offerings.
Gert Vido, head of corporate institutional sales for First Data in the EMEA region, said, “As we continue to strengthen our presence throughout EMEA, working with premier partners like AccorHotels will accelerate our efforts to enable global commerce for businesses of all sizes across the region.”