First Data Transitions Chase Paymentech Portfolio

First Data Seamlessly Transitions Chase Paymentech Portfolio Merchants to Benefit from First Data's Continued Focus on Product Innovation

First Data, a global technology leader in electronic commerce and payments, today announced the successful termination of its joint venture, Chase Paymentech Solutions(TM), with JPMorgan Chase. Both companies now operate separate payment businesses.

First Data's core business is providing data-driven solutions and insight to both brick-and-mortar and e-commerce merchants through market-leading services and technologies that advance global electronic payments. First Data's investment in its portfolio of product offerings from loyalty programs to data analytics and mobile commerce solutions will enable merchants to differentiate themselves in the marketplace.

"Ensuring there was no disruption to our allocated merchant partners or employees during this transition was a priority for First Data and JPMorgan Chase," said Brian Mooney, president of First Data's Merchant Services group. "As the payments industry evolves, the value proposition to merchants becomes more about delivering new technologies that enhance the consumer experience wherever they may choose to buy and First Data has the breadth and depth of solutions to do just that."

First Data has assumed its 49 percent share of the merchant portfolio which includes management of the full-service ISO and Agent Bank unit of the JV. First Data has also completed the integration of its proportionate share of the JV's assets and a portion of the JV employees into its existing merchant acquiring business. First Data will continue to provide processing services for a segment of the business allocated to JPMorgan Chase.

Today, First Data provides processing and acquiring services to more than 5.4 million merchant locations globally and processed $1.5 trillion of payment transaction dollar volume on behalf of U.S. merchants in 2007.

About First Data

First Data is a global technology leader in information commerce. The company processes transaction data of all kinds, harnesses the power of that data and delivers innovations in secure infrastructure, intelligence and insight for its customers. With operations in 37 countries, First Data serves more than 5.4 million merchant locations and more than 2,000 card issuers and their customers. It powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2.1 million ATM and retail locations. Through First Data's centers of excellence, such as security, analytics, customer loyalty and mobile payments, it offers data-driven commerce solutions for customers around the globe. For more information, visit www.firstdata.com.

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