ATLANTA, June 20, 2012 – First Data Corporation, a global leader in electronic commerce and payment processing, and Chemical Financial Corporation (NYSE: CHFC), the second largest bank holding company headquartered in Michigan, recently finalized a long-term strategic merchant services partnership.
Under terms of the agreement, First Data will partner with Chemical Bank to distribute merchant payment processing services to Chemical Bank’s commercial customers throughout the bank’s customer-facing channels, including their 142 branch network across Michigan. First Data will manage operations, risk management and merchant sales activities leveraging the Chemical bank brand and strength of their relationships.
“We’re extremely excited about the opportunity to partner with Chemical Bank,” said Neal Korzekwinski, senior vice president, Strategic Partner Sales & Management at First Data. “Our ability to deliver, on a local level, the customer experience that Chemical Bank clients expect and deserve is the foundation of our partnership.”
”We look forward to our partnership with a best-in-class provider like First Data. The depth and breadth of their solutions will enhance our ability to provide a full range of merchant services solutions to our commercial customers,” said David B. Ramaker, Chemical’s Chairman, CEO and President. ”This relationship will better position us to meet the diverse banking needs of our business customers across the state of Michigan.”
About Chemical Financial Corporation
Chemical Financial Corporation is the second-largest bank holding company headquartered and operating branch offices in Michigan. The Corporation operates through a single subsidiary bank, Chemical Bank, with 142 banking offices spread over 32 counties in the lower peninsula of Michigan. At March 31, 2012, the Corporation had total assets of $5.5 billion. Chemical Financial Corporation's common stock trades on The NASDAQ Stock Market under the symbol CHFC and is one of the issues comprising The NASDAQ Global Select Market.
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.
Elizabeth Grice, First Data
John Hatfield, Chemical Bank