First Data renews PNC processing agreement
Denver, August 11, 2009--Global technology and payments processing leader First Data today announced that The PNC Financial Services Group (NYSE: PNC) has renewed and expanded its agreement for transaction processing services. Under the agreement, First Data will provide signature debit, PIN debit and ATM processing services, ATM terminal driving, credit card, small business and home equity loan processing, fraud and collections services, remittance processing, prepaid processing as well as plastic, statement and letter production services.
PNC will transfer some credit card processing not currently with First Data as well as adding PIN debit and ATM processing it had gained through its acquisition of National City Corp. PNC acquired National City on Dec. 31, 2008.
First Data has provided transaction processing services to PNC since 1992 and services more than 15 million total accounts on file for PNC. Financial terms of the agreement are not being disclosed.
About PNC
The PNC Financial Services Group, Inc. (www.pnc.com ) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
About First Data
First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com .
Source: Company press release.
