First Data

SunTrust Merchant Services currently serves more than 67,000 merchant locations

ATLANTA, Jan. 26, 2012 – First Data Corporation, a global leader in electronic commerce and payment processing, and SunTrust Banks, Inc. (NYSE: STI), one of the nation’s largest banking organizations, today announced a long-term renewal of their merchant services partnership, SunTrust Merchant Services, LLC.  The joint venture currently serves more than 67,000 merchant locations and processes more than $29 billion in card volume every year. 

Under terms of the agreement, First Data will continue managing day-to-day operations, risk management and merchant sales activities, while SunTrust will continue to build upon the growth of the business through its client-facing channels, including its retail branch network of more than 1,650 locations throughout the Southeast and Mid-Atlantic regions and wholesale-relationship sales force.

“We are extremely excited about the opportunity to deepen the relationship between our organizations,” said Neal Korzekwinski, senior vice president, First Data.  “Our ability to deliver the customer experience that SunTrust clients expect and deserve is the foundation of our partnership.”

“Since 2002, SunTrust Merchant Services has been providing clients with the benefits of effective and efficient debit and credit card processing services,” said Robert Blair, head of commercial card and merchant services at SunTrust.  “We look forward to continuing this venture with First Data in our ongoing effort to add value to our relationships with our clients in serving all their financial needs.”

In addition to the merchant alliance, First Data also provides SunTrust with signature debit, credit, prepaid and commercial card processing, fraud prevention and detection, and card production and personalization services. First Data’s STAR Network provides PIN-secured debit point-of-sale and ATM access to SunTrust’s cardholders.

About SunTrust Banks, Inc.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation’s largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of December 31, 2011, SunTrust had total assets of $176.9 billion and total deposits of $127.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust’s Internet address is suntrust.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.

Contacts
Hugh Suhr, SunTrust Banks, Inc.
404-827-6813
hugh.suhr@suntrust.com

Cara Crifasi, First Data
303-967-6367
cara.crifasi@firstdata.com