Banco Popular North America signs First Data as merchant services provider

Source: First Data

First Data Corp. (NYSE: FDC), a global leader in electronic commerce and payment services, and Banco Popular North America (BPNA), one of the nation's premier community banks and a leading U.S. Small Business Lender, announced today they have signed a new revenue-sharing alliance agreement.

First Data will provide merchant payment processing services on behalf of BPNA. The alliance will allow BPNA to offer industry-leading merchant services to its business customers through an expanded portfolio of electronic payment products and services, including credit, debit and gift card programs. Currently, BPNA has more than 50,000 small business customers throughout the U.S. The agreement also expands BPNA's merchant support network by adding dedicated First Data sales executives throughout BPNA's markets.

"At Banco Popular North America we strive to provide extraordinary client services and exceptional customer support," said Manuel Chinea, senior vice president of marketing and product development. "We are excited to partner with the leading merchant services provider in the industry and to offer our business customers a superior product for their payment processing needs."

The agreement will allow BPNA to offer next-day settlement for customers with a Banco Popular business checking account. Other key client benefits include free merchant Internet access to reconcile their business checking accounts, resolve chargebacks, and perform historical and trend analysis.

"We are delighted to join with Banco Popular North America in offering their current clients enhanced payment processing flexibility and additional tools to help the bank attract new clients and expand their revenues," said John Shlonsky, president, First Data Merchant Alliance Services.

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