Thursday, March 11, 2010 Names Mark Bishopp Vice President Strategic Development
COLUMBUS, Ohio--(BUSINESS WIRE), Inc., a leading global online payment solutions provider, announced today the appointment of Mark Bishopp as Vice President – Strategic Development.

Mark has more than 20 years of progressive international executive experience in strategic planning/alignment management, project management office establishment and critical program execution. Mark began his career with Price Waterhouse where he spent seven years before forming his own consulting company specializing in bridging the gap between business, operations and IT. His international client list is diverse in terms of size and industry servicing the likes of Avnet, Battelle, Citibank, JPMorganChase, The Limited and The Metropolitan Museum of Art, to name a few.

Tom Dailey, President of, stated, “We are very fortunate that Mark is joining our executive team. His work experience and global perspective provide a combination of solid expertise that will enable him to quickly add value to our organization.”  Mark holds a Bachelor’s Degree in Business Administration from St. Bonaventure University in New York.


About, Inc.

Founded in 2000 and based in Columbus, Ohio,, Inc. is a global payments solutions provider servicing approximately 60,000 online retailers. 2Checkout provides web-based businesses a merchant account alternative and a fully automated suite of backend services, including world-class fraud protection, customer care, PCI data storage, and multiple payment methods in multiple currencies and languages. For more information visit

Hypercom to Present at Roth Capital Partners 22nd Annual Growth Stock Conference

22nd Annual ROTH OC Growth Stock Conference

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Hypercom Corporation (NYSE: HYC) today announced that Chief Financial Officer Thomas B. Sabol will present at the Roth Capital Partners 22nd Annual Growth Stock Conference at approximately 3:00pm PDT on Monday, March 15, 2010 at the Ritz Carlton Hotel in Dana Point, California. Joining Mr. Sabol will be Scott Tsujita, Senior Vice President, Finance, Treasury and Investor Relations.



To access a webcast of Hypercom’s presentation, please go to at least two minutes prior to the presentation to register. The webcast will also be archived and available for seven days following the live broadcast at


About Hypercom (

Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.

MoneyGram International Appoints SVP, Chief Marketing Officer

Juan Agualimpia to Direct Company’s Global Marketing Strategy

MINNEAPOLIS--(BUSINESS WIRE)--MoneyGram International (NYSE:MGI), a global leader in the payment services industry, today announced the addition of Juan Agualimpia as senior vice president and chief marketing officer, reporting to Pamela H. Patsley, MoneyGram chairman and CEO. As chief marketing officer, Agualimpia will oversee MoneyGram’s global branding and marketing strategy.

“Juan is an established veteran in the marketing arena and his experience in large, consumer-centric, international organizations will make him a valuable asset to MoneyGram’s leadership team,” said Patsley. “Juan brings an extensive background in global brand positioning, and marketing strategy and I look forward to leveraging his talents and expertise to help MoneyGram accelerate growth and increase market share.”

Said Agualimpia: “MoneyGram is a company with tremendous potential. I am very excited to work with the leadership and marketing teams to take our brand and consumer experience to the next levels. We are focused on delivering significant growth across channels, countries, communities and categories.”

Agualimpia brings to MoneyGram nearly 20 years of leadership experience in marketing, brand management, customer relationship management and product development. He joins MoneyGram after five years with Newell Rubbermaid, where he most recently served as vice president and general manager for the Art & Coloring Global Business Unit.

Prior to that, Agualimpia served in senior-level marketing and management positions for global brand leaders such as Reckitt Benckiser, Abbott Laboratories, The Clorox Company and Warner-Lambert.

Agualimpia holds an MBA in marketing and finance from F.W. Olin Graduate School of Business at Babson College and a BS in business administration from Universidad ICESI in Cali, Colombia.  

About MoneyGram International

MoneyGram International offers more control and more choices to people separated from family and friends by distance or those with limited bank relationships to meet their financial needs. A leading global money transfer company, MoneyGram International helps consumers send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 190,000 agent locations in 190 countries and territories. MoneyGram's convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer at an agent location please visit or find us on Facebook.

PYMNTS Interview with MasterCard's President of Global Products - Gary Flood

MasterCard Worldwide

MasterCard’s Momentum in Emerging Markets Makes (payment) Innovation Move Interview Highlights How the Economic Crisis Drives Payment Innovation

BOSTON--(BUSINESS WIRE) interviews MasterCard’s President of Global Products and Solutions, Gary Flood who discusses how the economic crisis drives payment Innovation. Flood sees both technology and consumers driving solutions that will shape the future of the payments industry. When asking Gary about new developments from the merchants’ perspective he says, “Paypass has provided a great deal of capability for us… [and] the ability to speed transactions through on a checkout, as well as providing some ingenuity and innovation… So I think for us, merchants are big, they’re important; we’re spending a lot more time with them.”

“Paypass has provided a great deal of capability for us… [and] the ability to speed transactions through on a checkout, as well as providing some ingenuity and innovation… So I think for us, merchants are big, they’re important; we’re spending a lot more time with them.”

The full interview can be found here: promotes the companies, products and people that drive "what's next" in payments, worldwide. is a joint venture between Berkshire Hathaway's Business Wire and Market Platform Dynamics. In the two months since its launch, has assembled a very large and highly engaged community of relevant (and senior) industry executives and opinion makers across the payments ecosystem who regularly click on its newsletter, visit the site, and spend a lot of time there. has become the "hub" for payments innovation for those whose core business is payments and for those who view payments as central to their own commerce capabilities.

For information on contact You can also follow on Twitter at and join the PYMNTS Linked In group.

About Market Platform Dynamics (MPD):

MPD is a management consulting firm that ignites catalyst businesses by leveraging new technologies, business models and pricing strategies. MPD has a wealth of experience within industries that are characterized by complex platform-centered ecosystems, including payments, mobile/telecoms, digital and advertising-supported media, and software-based businesses.

MPD works with both incumbents and new entrants, offering a unique lens into the dynamics that shape the competitive playing field. In addition to traditional consulting-based services, MPD’s Catalyst Ventures provides intellectual and human capital to new firms. MPD’s experts include economists, econometricians, product development specialists, and strategic marketers who apply cutting-edge business theory and statistical methods to the practical problems of building and growing a profitable catalyst business. MPD is headquartered in Cambridge, MA, and has offices in London and Hong Kong.

For more information visit

About Business Wire

Business Wire, a Berkshire Hathaway company, is utilized by tens of thousands of member companies and organizations worldwide to functionally enhance and communicate investor relations and public relations content to target audiences. As a recognized disclosure service in the United States, Canada and a dozen European countries, Business Wire facilitates the simultaneous flow of market-moving press releases from corporations to financial markets and their audiences, including regulatory authorities, media, investors, financial information systems and consumer news services. Business Wire also handles XBRL tagging, document formatting and regulatory filing into EDGAR, SEDAR, FSA and other systems.

Founded in 1961, Business Wire has dual headquarters in San Francisco and New York, with 30 bureaus in cities including Los Angeles, Chicago, Boston, Miami, Paris, Frankfurt, London, Brussels, Tokyo, Toronto and Sydney and reciprocal offices throughout the world. Business Wire's patented NX data platform supports XML, XHTML and XBRL code that enhances news release interactivity, social media sharing and search engine optimization. More information about Business Wire and its services is located on its website at

One Time Password's "Time Drifting" Problem Results in Rejected Passwords

Out of time banking tokens

Faulty timing results in rejected passwords

Conditions such as air pressure and humidity have caused tokens similar to those shown here to suffer a phenomenon known as 'time drift', when the time on the token goes out of sync with the bank system's time. -- ST PHOTO: AZIZ HUSSIN

A TIMING issue has led to problems for some online banking customers who use one-time password tokens to log into their accounts.

The problem, a phenomenon known as 'time drift', prevents the tokens from generating the right passwords.  Since their introduction in late 2006, banks have issued hundreds of thousands of the thumb-sized devices, designed to make online transactions more secure.

Read the full exclusive in Thursday's edition of The Straits Times.

Zeus Botnet Amputated - Limb Regrows Quickly

Image representing Associated Press as depicte...
Huge 'botnet' amputated, but criminals reconnect

By JORDAN ROBERTSON (AP) – 12 hours ago

SAN JOSE, Calif. — The sudden takedown of an Internet provider thought to be helping spread one of the most promiscuous pieces of malicious software out there appears to have cut off criminals from potentially millions of personal computers under their control.

 victory was short-lived. Less than a day after a service known as "AS Troyak" was unplugged from the Internet, security researchers said Wednesday it apparently had found a way to get back online, and criminals were reconnecting with their unmoored machines.

The drama initially raised hopes of a sharp drop-off in fraud, because criminals could no longer communicate with many computers infected with a type of malware known as "ZeuS," which is mostly used to steal online banking usernames and passwords. Hundreds of criminal operations around the world use the malware.

It's unknown how many computers are infected with ZeuS, but it's estimated to be in the millions. Cisco Systems Inc. said as many as 25 percent of the world's ZeuS-infected machines were unplugged from the massive "botnet" overnight with the takedown of AS Troyak. 

Botnets are networks of infected PCs that behave like criminals' remote-control robots. They steal identities en masse and are used to attack Web sites.

But instead of a slam-dunk victory, the incident wound up highlighting the whiplash pace at which criminals can resurrect their illicit businesses after what should have been a devastating setback.

RSA, the security division of EMC Corp., said dozens of malicious servers that criminals used to spread ZeuS were connected to the Internet by AS Troyak. The service inexplicably went dark Tuesday, severing the ties between criminals and ZeuS-infected machines under their control. 

It's not publicly known who pulled the plug. It could have been law enforcement, security researchers, or even the criminals themselves if they decided to move their operations to other servers.  Shutting down malware operations is a constant cat-and-mouse game.

Some services exist solely to host malicious content, and when their connections to the Internet are severed, it's often relatively easy to find another provider willing to sell them a new connection.

RSA researchers wrote in a note to clients that their experience shows that "these kinds of drastic changes are usually short-lived, as in the long run, criminals tend to restructure their criminal activity and relaunch their online attacks."

That apparently happened — and quickly. By Wednesday, researchers said the servers appeared to be back online, through a new Internet provider.

Cisco researchers said a total of 68 command-and-control servers were brought down, but that it's unknown how many infected computers were connected to each of those.

But they added that the criminals may have known the servers were going to be brought down, because traffic to those servers spiked over the weekend, suggesting they were directing infected computers to point to new servers.

One of the most high-profile takedowns of a malicious Web site hosting service involved a company called McColo Corp. whose Internet service was severed in the winter of 2008 after researchers amassed evidence of the company's wrongdoing.

Worldwide spam volumes almost instantly dropped by half, but within days started climbing again.

Copyright © 2010 The Associated Press. All rights reserved.

First Data Reports Fourth Quarter 2009 Revenue of $2.6 Billion Full-Year 2009 Revenue of $9.3 Billion

Image representing First Data Corp as depicted...
  • Michael Capellas Joins KKR as Senior Advisor Focusing on Technology

  • First Data Names Joe Forehand as Chairman and Interim CEO

  • Renewed and Extended Sovereign Bank Merchant Acquiring Agreement

  • Renewed Agreements with 157 Financial Institutions

ATLANTA--(BUSINESS WIRE)--First Data Corp. today reported its financial results for the fourth quarter and full year ended Dec. 31, 2009. Consolidated revenue for the quarter was up 12% to $2.6 billion. Consolidated revenue growth was primarily driven by the formation of the Bank of America Merchant Services alliance, which substantially extended First Data’s leadership in merchant acquiring. Adjusted Revenue increased 1% for the quarter due mainly to growth in International Segment Revenue helped by a weaker U.S. dollar.

For the fourth quarter, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $530 million compared to $645 million for the fourth quarter of 2008. Several items unfavorably affected Adjusted EBITDA including; higher credit losses and warranty expense of $26 million, the timing of incentive compensation accruals which increased quarterly expenses by $29 million, a $9 million impact from lost business due to Washington Mutual’s acquisition by J.P. Morgan Chase, and lower royalty revenues of $6 million. For the quarter, the net loss attributable to First Data was $369 million which includes after-tax interest expense of $281 million.

For the full year, consolidated revenue was up 6% to $9.3 billion. Full-year Adjusted Revenue declined 7%. Adjusted Revenue declined primarily due to lower revenue in the Retail and Alliance Services segment and the stronger U.S. dollar. For 2009, Adjusted EBITDA was $2.1 billion compared to $2.6 billion for 2008. Adjusted EBITDA was unfavorably impacted by the weaker economy, a stronger U.S. dollar and lower royalty revenues. The full-year net loss attributable to First Data was $1.1 billion, which includes after-tax interest expense of $1.1 billion.

“In 2009 First Data improved its solid competitive position in the U.S. and around the globe,” said Michael Capellas, chairman and CEO. “We remain focused on leveraging our strengths in distribution and product innovation as we emerge from a challenging 2009 economic environment.”

Segment Results

Retail and Alliance Services

Retail and Alliance Services reported Segment Revenue of $820 million, which was unchanged compared to the fourth quarter of 2008. Favorable drivers of Segment Revenue included strong transaction growth, the addition of 15 independent sales organizations, nine referral partners and one revenue share agreement. This growth was offset by a decline in average ticket sizes and continued economic weakness affecting consumer spending. Segment EBITDA was $298 million, compared to $366 million for the fourth quarter of 2008. Segment EBITDA declined due to changes in revenue mix, increased merchant credit losses, additional check warranty expense and an increase in product development expense. Margin was 36.4%.

Full-year Segment Revenue was $3.1 billion, down 7%. Favorable drivers of Segment Revenue included 5% merchant transaction growth and the significant expansion of merchant distribution channels through alliances, revenue share agreements and independent sales organizations. This growth was more than offset by declining average tickets, continued economic weakness affecting consumer spending and lower interest income on deposits. For 2009, Segment EBITDA was $1.2 billion, compared to $1.4 billion for 2008. Segment EBITDA declined mainly due to lower revenue. In addition Retail and Alliance Services experienced higher credit losses from merchant failures. Margin was 39.0%.

Financial Services

Financial Services reported Segment Revenue of $353 million for the fourth quarter, down 7%. Growth from new business was more than offset by the previously disclosed loss of Washington Mutual as well as price compression on certain renewals. Segment EBITDA was $148 million, compared to $196 million for the fourth quarter of 2008. Segment EBITDA declined due to lower revenue and an increase in technology costs partially related to compliance with new regulations. Margin was 41.9%.

Full-year Segment Revenue was $1.4 billion, down 5%. Growth from new business was more than offset by lost business, primarily the loss of Washington Mutual, and price compression on certain renewals. For 2009, Segment EBITDA was $645 million, compared to $753 million for 2008. Segment EBITDA declined due to lower revenue and an increase in technology costs. Margin was 44.7%.


International reported Segment Revenue of $452 million for the fourth quarter, up 12%. Segment Revenue on a constant currency basis was up 2%, due in part to increased license sales and revenue growth in the Asia Pacific region. Segment EBITDA was $122 million, compared to $109 million for the fourth quarter of 2008. Margin was 27.1%. On a constant currency basis, Segment EBITDA was $112 million, up 3% and margin was 27.2%. Constant currency Segment EBITDA grew primarily due to an increase in license sales and cost reduction initiatives.

Full-year International Segment Revenue was $1.6 billion, down 7%. Segment Revenue on a constant currency basis was up 1%. For 2009, Segment EBITDA was $399 million, compared to $433 million for 2008. Margin was 25.4%. Segment EBITDA was unfavorably impacted by the stronger U.S. dollar. On a constant currency basis, Segment EBITDA was $446 million, up 3% and margin was 26.0%. Constant currency Segment EBITDA increased primarily due to cost reduction initiatives.

Significant Events

Senior Management Changes

First Data today announced the appointment of board member Joe Forehand, as chairman and interim CEO effective March 31, 2010. Forehand succeeds Michael Capellas, who after serving three years with the company has accepted a new role as a senior advisor to Kohlberg Kravis Roberts & Co. focusing on technology.

Forehand has been a member of First Data’s board of directors since September 2009. Mr. Forehand retired as chairman of the board of directors of Accenture Ltd in 2006. In his more than 30 years with Accenture, Forehand served as the CEO from 1999-2004, prior to that, as chief executive of the Communications and High Technology Operating Group, and as chairman of the board of directors from 2001-2006. Since Sept. 2007, Forehand has been a member of the Portfolio Management Committee for Kohlberg Kravis Roberts & Co.

Sovereign Merchant Services Renewal

On Dec. 3, 2009, First Data announced that Sovereign Bank, a wholly owned subsidiary of Banco Santander, S.A., had agreed to extend their existing merchant services agreement. Sovereign and First Data began their cooperation to offer merchant services programs in 2001.

Globalization of First Data Business Lines

In order to increase operating efficiencies and accelerate product commercialization, the International business will now be aligned with the company's two global lines of business: Financial Services, and Retail and Alliance Services. The company does not currently intend to revise its segment reporting structure.

Non-GAAP Measures

In certain circumstances, results have been presented that are non-GAAP measures and should be viewed in addition to, and not in lieu of, the company's reported results. Reconciliations to comparable GAAP (generally accepted accounting principles) measures are available in the accompanying schedules and in the "Investor Relations" section of the company's Web site at


Investor Conference Call

The company will host a conference call and webcast on Thursday, March 11, at 8 a.m. EST to review fourth quarter and full year 2009 financial results. Michael Capellas, chairman and CEO of First Data, will lead the call. Also participating will be Pat Shannon, chief financial officer, and Silvio Tavares, senior vice president, investor relations.

To listen to the call, dial 888-378-4350 (U.S.) or +1-719-457-2734 (outside the U.S.) 10 minutes prior to the start of the call. The call will also be webcast on the “Investor Relations” section of the First Data Web site, Please click on the webcast link at least 15 minutes prior to the call. A slide presentation to accompany the call will be included in the webcast and also will be available under the “Investor Relations” section of the Web site.

About First Data

First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit

TIO Launches Mobile Payment Platform

 TIO Networks Corp. TIO grows its multi-channel bill payment processing strategy with mobile bill payment apps for smartphones

VANCOUVER--(BUSINESS WIRE)--TIO Networks (TSX V: TNC)(“TIO”), North America’s leading multi-channel expedited bill payment processor, today announced the launch of its own mobile bill payment platform. This new addition to TIO's list of payment channels enables participating billers to empower their customers to manage and pay bills anytime and from anywhere using their mobile smartphone.

“We are very excited about creating a platform to specifically address the needs of the millions of active smartphone users,” said Hamed Shahbazi, Chairman and CEO of TIO Networks. “TIO’s expedited payment service combined with its electronic bill presentment capabilities will provide the best mobile bill payments user experience for billers and their customers.”

TIO’s mobile payment platform will soon enable consumers to make expedited wireless, utility, cable and other payments on their iPhone OS or Android powered smartphones. TIO’s mobile platform empowers customers with real time access to their account through an intuitive and rich user interface. Customers will be able to manage and pay their bills anytime from the convenience of their smartphone. Payments can be made using a credit / debit card or other electronic means.

“With the emergence of the smartphone, we believe that there will be a material shift in how people will manage their finances and lives. This new platform allows us to fully serve this market,” added Mr. Shahbazi.

TIO’s mobile payments platform also enables billers to develop a one to one marketing relationship with their customers by virtue of their smartphones. Billers who participate in TIO’s mobile payments channel will soon be able to market products and services to customers directly via their customers’ smartphones.

About TIO Networks Corp.

TIO is the leading multi-channel expedited bill payment processor serving the largest Telecom, Wireless, Cable and Utility bill issuers in North America. With over 18,000 endpoints to its processing network, TIO symbolizes fast, convenient and secure access to expedited payment services.

Online Banking Fraud Rises 14% as Criminals Move to Web

Debit and credit card fraud has fallen dramatically as criminals turn their attention to the easier pickings to be had from fleecing online banking customers.  Figures released today by the UK Cards Association revealed a substantial 28% drop in fraud losses from 2008 to 2009, amounting to £170m. This dramatic fall to lowest levels since 2006 was put down to combination of initiatives from banks, including chip and PIN, as well as greater police input.

The picture online was less rosy, however. Online banking losses ramped up 14% in 2009 compared to year earlier figures, totalling £59.7m, as fraudsters targeted the weakest link in the chain – individual banking customers – and tripped them up using phishing or malware attacks. Phishing attacks grew 16% in 2009 compared to year earlier figures, as customers disclosed their banking details to fake email requests or cold callers.

Continue Reading at CBR

24,000 HSBC Swiss Accounts Personal Data Stolen

Data theft hits 24,000 HSBC clients

HSBC has revealed that a former employee stole the personal details of around 24,000 clients of its private bank in Switzerland in a major security breach three years ago.  HSBC said a data theft it uncovered last year was far more serious than it first thought.   Initially the bank believed that fewer than 10 customers had been affected.  But it admitted on Thursday that approximately 15,000 existing clients and 9,000 previous clients with HSBC accounts in Switzerland before 2006 had been caught.  The breach, which affected 15 per cent of HSBC’s total private client base, will come as a serious blow to the reputation of the bank.

First Data Names Joe Forehand as Chairman and Interim CEO as Michael Capellas Joins KKR

Image representing First Data Corp as depicted...
ATLANTA--(BUSINESS WIRE)--First Data Corporation and its board of directors today announced the appointment of board member Joe Forehand, former chairman and CEO of Accenture, as chairman and interim chief executive officer (CEO). Forehand will succeed Michael Capellas on March 31, 2010. Capellas, after serving as CEO for three years, has accepted a new role as senior advisor at KKR focusing on technology. He will continue to support First Data in an advisory capacity.

Henry Kravis, co-founder of KKR and a member of First Data’s board of directors, said, "I would like to express my deep appreciation to Michael Capellas for his leadership and significant accomplishments at First Data. First Data has shown exceptional resiliency and continues to grow and invest during this economic downturn. I look forward to working with Michael in his new role as KKR senior advisor, and I am confident he will be a strong contributor to our technology team.”

Under Capellas’s leadership, First Data undertook multiple strategic initiatives and expanded into new businesses, becoming the global leader in electronic commerce and payment solutions for merchants, financial institutions and card issuers. Since 2007, the company has achieved its strategic goals of delivering solid organic growth, investing heavily in technology and realizing substantial cost savings. Capellas has recruited a world-class management team, reestablished new product development as a core capability and has realigned the company around two global lines of business – retail and alliance services and financial services. Other accomplishments that have strengthened First Data’s market and financial position include:

  • Signing more than 500,000 new merchants in 2009, bringing the total to 6 million merchants in 36 countries;

  • Creating industry-changing strategic alliances, including with Bank of America and ICICI, India’s largest private-sector bank;

  • Extending and expanding distribution agreements with Wells Fargo, PNC and Citi;

  • Announcing significant new client wins and renewals with American Express, Capital One and Citi;

  • Launching new products, including a new eCommerce platform; TransArmor, a new data security solution in partnership with RSA; and FirstVision, the market-leading platform for issuing and processing credit, debit and prepaid cards around the world; and

  • Dramatically improving service quality through the consolidation of data centers, call centers and merchant platforms.

“We have made great strides in a difficult economic environment, and I feel privileged to have worked with so many accomplished professionals that helped steer the company in the right direction. Markets are made at the bottom, and the accomplishments of the past three years will undoubtedly strengthen our position once the economy recovers. I am extremely proud of the team and all of the employees. With the company on a solid path, I have decided that this is the right time for me to join KKR as senior advisor focusing on technology,” said Chairman and CEO Capellas.

Forehand, 61, currently a member of First Data’s board of directors and a senior advisor at KKR, was most recently chairman and CEO of Accenture where he spent 34 years of his career. Forehand served as Accenture’s CEO from November 1999 through August 2004 and as Accenture’s chairman from 2001-2006.

Said KKR member and First Data Board Director Scott Nuttall, "Joe Forehand is a proven leader. He guided Accenture through its IPO and a period of significant growth and success. He has been an important part of KKR's efforts as a senior advisor and has more recently been directly involved with First Data as an advisor to management and a board member. As a result, we expect a seamless transition and no change in the strategic direction of the company."

“First Data has a great history, a great team and a great future. I am very excited about the opportunity to make the company an even stronger leader in electronic commerce and payment technology solutions,” said newly named Chairman and Interim CEO Forehand.

Biographical highlights on Joe Forehand, newly named chairman and interim CEO

Forehand is currently a senior advisor at KKR and prior to that served as chairman and chief executive officer at Accenture, where he spent 34 years of his career. Forehand served as Accenture’s CEO from November 1999 through August 2004 and as chairman from 2001-2006. He led Accenture through a period of significant change and growth – including launching one of the largest global rebranding campaigns. In July 2001, Forehand led the company in its IPO, one of the largest in U.S. history. During Forehand’s term as CEO, Accenture grew from $9.6 billion in revenue and 66,000 employees to $13.7 billion in revenue and 103,000 employees. As a public company under his leadership, Accenture's total return to shareholders was 74 percent over a period of time when the S&P 100 Index decreased 14 percent. He also serves as chairman of the board of Aricent, a global innovation, technology and services company, and on the board of directors of the Auburn University Foundation. Forehand holds a bachelor’s degree in industrial engineering from Auburn University and a master’s degree in industrial administration and an honorary doctorate from Purdue University.

About First Data

First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit

Media Conference Call

First Data will host a media conference call at 11 a.m. EST to discuss this announcement. Participants will include First Data Chairman and CEO Michael Capellas and incoming Chairman and interim CEO Joe Forehand.

Dial-In Information:

To access the “First Data Update” conference call, you will need to dial one of the following telephone numbers. Please dial in 10 minutes prior to the start time to be entered into the conference in a timely fashion.

U.S. Toll-free: +1 (877) 303-6502

Outside of the U.S.: +1 (224) 357-2195

The conference call will be recorded for playback. To access the recording, please use one of the following dial-in numbers and the conference ID 62378336.

U.S. Toll-free Encore Dial In: +1 (800) 642-1687

Outside of the U.S. Encore Dial In: +1 (706) 645-9291

The recording will be available from March 11, 2010, at 12 p.m. EST until March 25, 2010, at 12:59 p.m. EST.

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