First American Payment Systems, L.P. Acquires FirstCard Financial Services, Inc.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--Oct. 14, 2002 First American First American may refer to:
n. A card issued by a bank authorizing the holder to receive bank services and often functioning as a debit card. and ATM processing acquirers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , is pleased to announce the acquisition of California-based FirstCard Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc. and with that, 636 ATM-processing contracts. This most recent acquisition is part of First American's efforts to enhance the company through a strategy of acquisitions. Neil L. Randel, President and Chief Executive Officer of First American Payment Systems, said, "Acquiring FirstCard Financial Services, Inc. is a significant step in strengthening our growth strategy." FirstCard Financial Services, Inc., now operating as FirstCard ATM, Inc., has also signed a long-term agreement with First American to provide ATM, credit and debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. processing as well as other First American products. Randel said, "The agreement gives FirstCard ATM the opportunity to completely service and meet any merchant's processing needs through First American's array of products and services. It also increases First American's ATM division by adding a seasoned ATM distribution channel." About First American First American Payment Systems, L.P. provides full-service electronic credit card authorization The right or permission to use a system resource; the process of granting access. See access control. and payment systems to retail, restaurant, mail order, telephone order, Internet and home-based merchants throughout the U.S. First American's divisions include national ATM deployment, Secur-Chex(TM) check guarantee and conversion, FirstPay.Net(TM) e-commerce payment gateway, and Merimac Capital point-of-sale equipment and ATM leasing. First American provides services for more than 30,000 merchants and approximately 1,000 ATMs nationally. For more information, visit www.first-american.net. |
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