First Data to process GE Consumer Finance's new accounts
First Data Corp. (NYSE:FDC), a global leader in electronic commerce and payment services, today announced that it will process more than 9 million additional active accounts for GE Consumer Finance based on recent new business agreements GE has won with Dillard's and Mervyn's. The portfolios are targeted to be converted in the next three to six months.
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"We are pleased to continue to expand our partnership with GE Consumer Finance," said Charles T. Fote, chief executive officer, First Data Corp. "This is confirmation of the confidence our clients have in First Data to deliver the most flexible and innovative payment offerings in the marketplace."
First Data currently processes more than 170 million private label accounts. First Data is the industry leader in private label processing, and through the reformulation of its technical platform, First Data offers the marketplace a system that delivers faster time to market, improved product development and multi-dimensional access to data.