Retailer taps First Data’s breadth of services and system flexibility
ATLANTA, Jan. 20, 2011 – First Data Corporation , a global leader in electronic commerce and payment processing, today announced it has entered into an agreement with Kohl’s Department Stores (NYSE: KSS) to provide payment processing services for the company’s private brand credit card accounts.
The multi-year agreement calls for First Data to provide Kohl’s with credit card processing, customer analytics, risk management services and automated customer service workflow tools. Financial terms of the agreement were not disclosed. Kohl’s partnership with First Data will not affect Kohl’s current credit card arrangement with Chase or the company’s previously announced agreement with Capital One.
“We’re pleased to partner with First Data and value their technological capabilities, system flexibility and broad portfolio of innovative services,” said Wes McDonald, Kohl’s senior executive vice president and chief financial officer. “Choosing a world-class partner for payment processing with an ability to respond to the changing payments landscape was important given the success and ongoing growth of Kohl’s credit card program.”
“Helping drive our customers’ success is the ultimate goal of First Data,” said Ed Labry, president, First Data - North America. “Our strategic view of the payments industry, our ability to offer the full spectrum of industry-leading services and the expertise of our dedicated employees all play a role in achieving that success.”
A conversion date is still being determined.
Based in Menomonee Falls, Wis., Kohl's (NYSE: KSS) is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. Kohl's operates 1,089 stores in 49 states with a commitment to environmental leadership. In support of the communities it serves, Kohl's has raised more than $150 million for children's initiatives nationwide through its Kohl's Cares(R) cause merchandise program, which operates under Kohl's Cares, LLC, a wholly-owned subsidiary of Kohl's Department Stores, Inc. For a list of store locations and information, or for the added convenience of shopping online, visit www.kohls.com .
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Vicki Shamion, Kohl's
Kristen Cunningham, Kohl’s
Nancy Etheredge, First Data