Review on First Data Corporation by Pedro O. Alvino M.
Electronic payment processing and reseller system.
First Data Corporation, a company that stands out in the credit card payment process, in addition to adding several payment systems for merchants either through POS system, email and mobile, so that also a large part of its marketing services are Based on a reseller mechanism, it is in such a way that it is affiliated with independent resellers who use the services of the platform.
The First Data platform, now called Fiserv since it was acquired by this company at the beginning of 2019, thus causing a large number of users to enter the platform, since previously the company handled a large percentage of transactions by credit card. credit in the US, where the acquisition by Fiserv extended a large user base attached to its services.
Fiserv services for its merchants have basic services based on POS equipment for credit card processing and ACH payment systems, but basically the company specializes in the reseller system where it covers a large number of partners in which many of they cannot be very reliable, so another fundamental problem is the rate system that it establishes for retailers, which makes it very difficult for new merchants to progress in their sales of services and products.
Pros
- Designed and adapted for companies with large volumes of daily transactions.
- Presents a wide variety of payment system products and equipment for merchants.
- It is one of the payment processors with the largest customer base globally.
- Allows the merchant to manage his own account and with special functions.
Cons
- It has a large number of complaints from its customers.
- It has a complex tiered rate system.
- Not ideal for small businesses with low transaction numbers.
