NEW DEAL SET TO SAVE MILLIONS IN RAIL INDUSTRY COSTS

Train operating companies will benefit from savings of more than £1million every year thanks to a new deal struck between the Association of Train Operating Companies (ATOC) and HSBC Merchant Services.

HSBC Merchant Services has been appointed to manage all credit and debit card payments for train operating companies. Whenever a ticket is purchased with any bank card, HSBC Merchant Services will deliver the transaction to the correct bank before ensuring the revenue is transferred to the right train company.

The forecast savings of the new payment card acquirer agreement are around £8m over the next five years.

Paul Lowe, ATOC’s Payment Card Services Manager, said: “ATOC is committed to providing its members with contracts which combine high quality standards and excellent customer service to deliver maximum value for money.

“We appointed HSBC Merchant Services because of their strong track record and technical expertise which meant the transition to a new provider was made with the minimum of disruption to our many members.

“The new contract will build on the consistently strong service we have previously received.”

HSBC Merchant Services has set up more than 3,500 outlets to process the card payments and ensure the revenue is delivered to train companies as quickly as possible.

President of HSBC Merchant Services Darren Wilson said: “This was a major achievement for us because of the technical complexity and sheer size of the project. It was only possible because our infrastructure allows us to handle such tasks in-house. We thrive on challenge and I’m proud of the way all of our staff have delivered a great value solution to ATOC.”

About HSBC Merchant Services

HSBC Merchant Services, one of the UK’s largest card processing providers, is a wholly-owned subsidiary of Global Payments Inc. As part of the world’s 6th largest payment processing company, and working together with HSBC Bank plc in an exclusive marketing alliance, HSBC Merchant Services draws on a combined industry experience of over forty years. HSBC Merchant Services LLP is a limited liability partnership registered in England, with a head office in Leicester and offices in London and Sheffield.

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