First Data and KeyBank Partner to Enhance Merchant Services Offering
NEW YORK, FEBRUARY 9, 2017 – First Data (NYSE: FDC), a global leader in commerce-enabling technology, and KeyBank, (NYSE: KEY) one of the nation's largest financial services companies, today announced a new relationship designed to provide enhanced merchant services solutions to KeyBank’s commercial, business, and government clients across the country. The partnership will allow KeyBank to offer First Data’s entire portfolio of business tools, including the Clover® platform which provides next-generation capabilities for business owners to accept payments, manage inventory, track sales, and access revenue-generating analytics and rewards programs.
“KeyBank is one of the nation’s leading financial institutions, with a trusted brand and a rich history that supports business owners by delivering innovative solutions,” said Chris Foskett, executive vice president, head of corporate and business development, First Data. “This new, long-term partnership strengthens First Data’s distribution network and builds upon our momentum with the preeminent financial institutions in the U.S. and around the world.”
“The new partnership shows our ongoing commitment to offer clients innovative solutions that simplify their lives and allow them to focus on running their businesses better,” said Harmeet Soin co-head of Product and Innovation for KeyBank’s commercial payments group. “First Data’s expanded capabilities coupled with Key’s customer centric and advisory approach will be a clear differentiator in the market.”
As part of this agreement, KeyBank will maintain its direct relationship to their clients while offering First Data’s market-leading solutions. KeyBank customers will be able to access the full Clover suite of solutions, including: Clover® Station, Clover® Mobile, Clover® Mini, and Clover® Go, as well as the Clover® App Market. In addition to the Clover suite, KeyBank clients will also have access to TransArmor, First Data’s security offering, Gift Solutions, and loyalty tools. They will also be able to use First Data’s developer portal, which makes it easy for software developers to integrate to the First Data platform and incorporate commerce into the solutions they develop for their clients.
About First Data
First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in 118 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,500 transactions per second and $1.9 trillion per year.
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $136.5 billion at December 31, 2016. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.