First Data to Provide Payment Processing Services
TORONTO, Jan. 17 /PRNewswire-FirstCall/ -- First Data Corp. (NYSE: FDC), a
global leader in electronic commerce and payment services, and GE Consumer
Finance-Canada, one of the leading consumer lenders in North America, signed
an agreement in which GE will acquire the small business MasterCard(R)
portfolio in Canada of First Data Loan Company Canada, and First Data will
provide card processing services for the accounts.
"This agreement will allow First Data to continue to focus on its core
competency of providing leading third-party payment processing services to
financial institutions around the world," said Peter Harrington, president,
First Data International, Latin America and Canada. "First Data and GE have
been partners for many years and we are excited to expand and strengthen this
relationship."
"We're pleased with this acquisition and we're committed to helping small
business owners grow their businesses and run them more efficiently," said
Stephen Motta, president and chief executive officer of GE Consumer
Finance-Canada.
"MasterCard Canada is very pleased to welcome GE to the growing ranks of
MasterCard card issuers in the Canadian market," said Kevin Stanton,
president, MasterCard Canada. "GE will bring additional choice and innovative
product options for customers."
About First Data
First Data Corp. (NYSE: FDC), with corporate headquarters in Denver,
Colorado (USA) helps power the global economy. As a worldwide leader in
electronic commerce and payment services, First Data provides credit, debit,
private-label, smart and stored value card issuing and merchant transaction
processing services; Internet commerce solutions; money transfer and cheque
processing services globally. Its Western Union and Orlandi Valuta money
transfer networks include approximately 202,000 agent locations in more than
195 countries and territories. With more than 30,000 employees worldwide,
First Data has offices throughout Europe, Asia Pacific, Latin America and
North America.
About GE and GE Consumer Finance
GE Consumer Finance, a unit of General Electric Company, with $122 billion
in assets, is a leading provider of credit services to consumers, retailers
and auto dealers in 41 countries around the world. GE Consumer Finance, based
in Stamford, Conn. (U.S.), offers a range of financial products globally,
including private label credit cards, personal loans, bank cards, auto loans
and leases, mortgages, corporate travel and purchasing cards, debt
consolidation and home equity loans and credit insurance. More information
can be found online at http://www.geconsumerfinance.com. GE (NYSE: GE) is a
diversified technology, media and financial services company dedicated to
creating products that make life better. GE Canada has 9,500 employees,
19 major manufacturing plants and 150 sales and service locations across the
country. More information about GE can be found online at http://www.ge.com.
About MasterCard
MasterCard(R) International is a leading global payments solutions company
that provides a broad variety of innovative services in support of our global
members' credit, deposit access, electronic cash, business-to-business and
related payment programs. MasterCard(R) International manages a family of
well-known, widely accepted payment cards brands including MasterCard(R),
Maestro(R) and Cirrus(R) and serves financial institutions, consumers and
businesses in over 210 countries and territories. The MasterCard(R)
award-winning Priceless(R) advertising campaign is now seen in 96 countries
and in 47 languages, giving the MasterCard(R) brand a truly global reach and
scope. For more information go to http://www.mastercardinternational.com.
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SOURCE First Data Corp.
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Related links:
http://www.firstdata.com
CONTACT:
Julie Holan of First Data, +1-407-551-3509,
julie.holan@firstdata.com; or Peter Tosches of GE Consumer
Finance, +1-203-585-6701, or cell, +1-203-249-7487,
peter.tosches@ge.com; or Jennifer Reed of MasterCard,
+1-416-365-6664, jennifer_reed@mastercard.com
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