First Data Expands Agreement with BBVA Bancomer; Relationship with Leading Latin American Financial Institution Grows beyond Mexico.MEXICO CITY Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi -- First Data Corp. (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ), a global leader in electronic commerce and payment services, today announced that it has renewed its payment processing agreement with BBVA Bancomer BBVA Bancomer is the largest financial institution in Mexico, dominating about 20% of the market. History Founded in 1932 in Mexico City as Banco de Comercio (English: Commerce Bank) (Bancomer). . First Data will support BBVA BBVA Banco Bilbao Vizcaya Argentaria (First Bank of Spain) Bancomer's retail business in Mexico, and will provide payment processing services to Finanzia USA, a BBVA subsidiary, supporting its credit card and retail operations 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. . This agreement builds on the existing relationship between First Data and BBVA Bancomer. First Data has provided credit card processing services to the bank since 1994. BBVA Bancomer is one of the largest financial institutions in Mexico, the second largest market in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. based on number of bank cards according to The Nilson Report. "First Data's global experience was key in our decision to expand our relationship with them," said Ricardo Grebe grebe (grēb), common name for swimming birds found on or near quiet waters in most parts of the world. Grebes resemble the loon and the duck; they have short wings, vestigial tails, and long, individually webbed toes on feet that are set far back , operations director, BBVA Bancomer. "They have proven their commitment to our clients in Mexico and we know they will provide the same level of quality service for our U.S. clients as well." "We are pleased to renew and expand our relationship with BBVA Bancomer, an innovative company with an exciting future," said Pam Patsley, president, First Data International. "We remain committed to continuing our growth in Latin America by expanding our service offering and allowing our customers to focus on their core business while increasing efficiencies and cost effectiveness in a constantly evolving market." "As a premier financial institution in Mexico, BBVA Bancomer is an important client for First Data, and we are pleased to have been chosen as their payment processor for their operations in Mexico and the U.S.," said Peter Harrington, president, Latin America & Canada, First Data International. "First Data's dedication to expanding client relationships and ensuring client satisfaction is evident with this agreement, and we look forward to continuing our relationship with BBVA Bancomer for many years to come." About BBVA Bancomer BBVA Bancomer is the main subsidiary of Grupo Financiero BBVA Bancomer (GFBB GFBB Grupo Financiero BBVA Bancomer, SA ) and the leading banking institution in Mexico in terms of assets, deposits, loans and number of branches. BBVA Bancomer offers personal, commercial and corporate financial products and services through 1,687 branch offices and 4,172 ATMs with a business model based on distribution networks segmented by groups of customers. Grupo Financiero BBVA Bancomer is Mexico's leading private financial group providing services to more than 10.2 million customers. GFBB is also a controlling affiliate of Banco Bilbao Vizcaya Argentaria (BBVA), one of the top financial groups in market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. in the Euro Zone. BBVA has presence in 35 countries with 7,113 offices, more than 35 million customers and 91,237 employees worldwide, out of which almost two thirds are based in America. For further information visit: www.bancomer.com About First Data First Data Corp. (NYSE:FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.1 million merchant locations, 1,400 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, smart and stored-value card issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union and its subsidiary, Orlandi Valuta, together make up one of the world's largest money transfer networks with approximately 233,000 Agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.7 million ATM and retail locations. For more information, visit www.firstdata.com. FDC-1 |
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