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Wells Fargo Renews First Data Card Processing Contract

SB Informer
Tuesday, November 7, 2006; 06:22 AM

Electronic commerce and payments leader First Data Corp. today announced that Wells Fargo has renewed and expanded its agreement for consumer credit and small business card processing services.

Under the terms of the long-term agreement, First Data will continue to provide Wells Fargo with comprehensive card processing services, including statement production and mailing, plastic card personalization and fraud services for Wells Fargo's 7 million cardholders. The addition of new portfolios represents a significant expansion in the relationship between First Data and Wells Fargo.

"First Data is very pleased to extend our long-term relationship with this very important client," said David Bailis, president, First Data Financial Institution Services. "We continue to make investments in technology and system features that empower our clients to build stronger, more valuable customer relationships."

"Wells Fargo has enjoyed a long relationship with First Data and we are pleased to announce the expansion of our agreement," said Kevin Rhein, executive vice president and business manager of Wells Fargo Card Services.

Wells Fargo has been a First Data client since 1971 and through the years, Wells Fargo and First Data have worked closely together to drive innovation in the payments industry.

In addition to card processing services, Wells Fargo and First Data share other business relationships, including Wells Fargo Merchant Services, L.L.C., which was formed in 1993, and is jointly owned by First Data Merchant Services, a subsidiary of First Data, and Wells Fargo Bank, N.A.