First Data International, a global leader in electronic commerce and payment services, is ending 2006 strongly with the renewal of a major processing agreement with Lloyds TSB in the United Kingdom.
One of the UK's foremost retail banks, Lloyds TSB has been a client of First Data International since 1991. Today, First Data processes the bank's UK credit card portfolio, as well as providing a range of customer facing and back office services.
The new seven year agreement, effective 2008, between Lloyds TSB and First Data includes conversion of the Lloyds TSB card portfolio to First Data's market-leading VisionPlus processing platform.
Colin Walsh, director, credit cards & operations, consumer banking, Lloyds TSB said: "First Data's payments expertise, their commitment to our business and the global credentials and functionality of VisionPlus proved a great combination. We look forward to continuing our strong partnership with them and taking advantage of the extended consumer finance capabilities of the new platform."
"Lloyds TSB is a key client of enormous importance to us," said David Yates, president, Europe, Middle East & Africa, First Data International. "We are delighted to have retained this business and believe that the contract renewal reflects our single-minded focus on meeting the needs of each of our clients, delivering the processing capabilities, value-added services and professional support to help them drive operational efficiencies and revenue growth."