Peoples Trust signs five-year card processing deal with First Data

Source: First Data

First Data Corp., a global leader in electronic commerce and payment services, and Canada-based Peoples Trust have signed a 5-year agreement in which First Data will provide card rocessing services for Peoples Trust secured card MasterCardR accounts.

Headquartered in Vancouver, Canada, Peoples Trust is a leading financial institution providing a variety of specialty services to clients in the Canadian marketplace. Peoples Trust is a successful provider of conventional and insured loans and also places and services mortgage products for institutional investors.

"We are pleased to sign this new agreement with First Data," says Frank Renou, president and chief executive officer of Peoples Trust. "We know this partnership will enable us to expand our credit card product offering while benefiting from advanced technology and scale of resources offered by First Data."

"This new agreement with Peoples Trust reinforces First Data's commitment to the global payment processing market," comments Pam Patsley, president, First Data International. "First Data will provide Peoples Trust with advanced processing capabilities to support its long-term growth and profitability objectives."

"We are delighted to have the opportunity to work with a well-respected financial services provider such as Peoples Trust, and we look forward to supporting the achievement of its payment processing goals," adds Peter Harrington, president of First Data International, Latin America and Canada.

First Data has provided card processing services in Canada since 1998 and is a leading merchant acquirer of MasterCard transactions in Canada, working with a wide range of merchants representing more than 85,000 outlets. Check processing and money transfer services are also offered through the company's TeleCheck and Western Union subsidiaries, respectively.

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