First Data is a premier commerce technology company offering integrated solutions including merchant acquiring, issuing and network solutions to clients in 118 countries, reaching approximately 6 million business locations and over 4,000 financial institutions. First Data is the largest merchant acquirer, issuer processor, and independent network services provider in the world, enabling businesses to accept electronic payments, helping financial institutions issue credit, debit and prepaid cards, and routing secure transactions between them. In 2014, First Data processed 74 billion transactions globally, or over 2,300 per second, and processed 28% of the world’s e-Commerce volume. In its largest market, the United States, First Data acquired $1.7 trillion of payment volume, accounting for nearly 10% of U.S. GDP in 2014. First Data’s business is characterized by transaction related fees, multi-year contracts, and a diverse client base which allow it to achieve a high level of recurring revenues.