First Data Renews Card Processing Agreement with MABA; Relationship Continues with Processor's Original Customer.DENVER -- Electronic commerce and payments leader First Data Corp. (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ) today announced that it has signed a multi-year contract extension with MidAmerica BankCard Association (MABA MABA Massachusetts Association of Buyer Agents MABA Michigan Agri-Business Association (East Lansing, MI) MABA Madison Area Builders Association (Madison, Wisconsin) MABA Microplate Alamar Blue Assay ). MABA was First Data's first bankcard processing client when First Data's Card Issuing Services business unit was formed more than 30 years ago. Under the extended agreement, MABA will continue to take advantage of credit card transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and other card portfolio management services provided by First Data for its 3.5 million accounts. Zions Bancorporation Zions Bancorporation (NASDAQ: ZION) is a member of the S&P 500, a bank holding company headquartered Salt Lake City, Utah. Its star subsidiary is NSB Public Finance. , a MABA member, will continue to use First Data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a for its 660,000 signature-based debit cards. "The MABA banks are very pleased to extend their contract with First Data," said Marc Kessinger, MABA President. "MABA has had a long and unique relationship with First Data. Their support and service have been an important factor in our success, and they continue to provide the technology and products that we need to remain competitive." MABA was originally formed in Omaha, Neb., in 1969 as a non-profit bankcard processing cooperative. Its members are 1st Financial Bank USA, Franklin Templeton Bank & Trust F.S.B., InfiCorp, INTRUST Bank and Zions Bancorporation. In 1971, First Data was incorporated to become a for-profit organization providing processing services to MABA. "We're very pleased to receive this contract extension from our oldest client," said Jim Schoedinger, president, First Data Card Issuing Services. "From the earliest days of our processing business, more than 30 years ago, First Data has collaborated with clients like MABA to accelerate their ability to differentiate themselves and strengthen their customer relationships. We believe that our proven record of delivering a sophisticated set of technology solutions that drive change and innovation by offering the right technology, at the right time, for the right use is a significant factor in our client retention and satisfaction." Financial terms of the agreement were not disclosed. The agreement is effective immediately. 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 A smart card that is "loaded" with cash. See smart card. issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. The company's STAR Network offers PIN-secured debit acceptance at 1.6 million ATM and retail locations. For more information, visit www.firstdata.com. First Data's Western Union 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., an international leader in consumer money transfer services, allows consumers to quickly and reliably pay bills and transfer money around the globe using its proprietary money transfer network. Western Union and its subsidiary, Orlandi Valuta, together make up one of the world's largest money transfer networks with approximately 225,000 Agent locations in more than 200 countries and territories. For more information on Western Union, visit www.westernunion.com. FDC-1 |
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