Primax moves card processing to First Data
16 January 2014 | 1026 views | 0
Source: First Data
Primax, a premier provider of debit and credit card issuing and merchant acquiring programs, products and services, today announced that it has entered into a payments card processing service agreement with First Data, the global leader in payments processing and electronic commerce solutions.
In December of 2013, Primax closed on the transaction to acquire the processing business of New England Bankcard Association Inc. (NEBA), a Massachusetts-based association of banks that provided credit card issuing and merchant acquiring programs, products and support services for its members. The Primax acquisition of NEBA processing consolidated the current processing and servicing business of NEBA into Primax and the processing agreement, which was previously between NEBA and First Data, is now between Primax and First Data.
"Primax was the management company for NEBA from 1981 to 2013 and has many clients independent of NEBA. For this reason Primax is already very comfortable in its relationship with First Data," said Ted Keith, Jr., President and CEO of Primax. Added Ted, "First Data is a trusted resource and partner and we are proud to continue working with them to provide payment processing services for our bank, credit union and private label clients."
Stated Matt Kardell, senior vice president, First Data, "First Data is pleased to continue working with Primax to offer their clients dynamic processing and innovative product solutions to meet their customers' needs and achieve their goals. Our relationship has spanned more than three decades, and we look forward to continuing to serve as a trusted partner to Primax under our new agreement."