First Data to Provide Cross-Border Debit Processing until 2015
FRANKFURT, April 15, 2010 – First Data Corporation , a global leader in electronic commerce and payment processing, and Commerzbank, a leading financial institution in Germany, have extended their debit processing agreement. Under terms of the renewal agreement, First Data will continue to provide technical processing for cross-border Maestro transactions for Germany's second largest financial institution until 2015.
"In First Data we have found a provider that complements our business," said Sylvia Vandeven, head of In-house Cards and group leader for debit and credit cards at Commerzbank. "First Data's strong performance throughout our evaluation process convinced us to extend our relationship."
"The early extension of our agreement reflects customer satisfaction and the trust that Commerzbank has in our cooperation," said Stephan Becker, managing director of First Data Deutschland. "Germany is an important market for us and this agreement underlines our strengthening client relationships in the country as well as our long-term commitment to the German market . We look forward to working closely with the bank, and delivering value to their business through our extensive debit processing expertise."
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 www.firstdata.com .
Andrea Pansegrau, First Data
+49 (0) 69 7933 1686