First Data Corporation, a global leader in electronic commerce and payment processing, today announced the company has agreed with Sovereign Bank, a wholly owned subsidiary of Banco Santander, S.A., to extend their existing merchant services agreement.
Sovereign and First Data began their cooperation to offer merchant services programs in 2001. Sovereign is one of the top 20 merchant acquirers in the United States with more than 60,000 merchants.
First Data will continue to provide merchant processing services to Sovereign's business and commercial customers throughout the northeastern United States, allowing Sovereign to offer a full suite of electronic payment products and services including credit, debit, check and gift card programs.
"Sovereign is a premier financial institution with a strong commitment to delivering market-leading products and services to its clients and we look forward to continuing our partnership over the next decade," said Ed Labry, president of First Data Retail and Alliance Services. "Together with Sovereign, First Data will continue to offer the bank's merchant customers an innovative portfolio of electronic payment solutions needed to compete in today's marketplace."