First Data Corporation, a global leader in electronic commerce and payment processing, and Chemical Financial Corporation (NYSE: CHFC), the second largest bank holding company headquartered in Michigan, recently finalized a long-term strategic merchant services partnership.
Under terms of the agreement, First Data will partner with Chemical Bank to distribute merchant payment processing services to Chemical Bank's commercial customers throughout the bank's customer-facing channels, including their 142 branch network across Michigan. First Data will manage operations, risk management and merchant sales activities leveraging the Chemical bank brand and strength of their relationships.
"We're extremely excited about the opportunity to partner with Chemical Bank," said Neal Korzekwinski, senior vice president, Strategic Partner Sales & Management at First Data. "Our ability to deliver, on a local level, the customer experience that Chemical Bank clients expect and deserve is the foundation of our partnership."
"We look forward to our partnership with a best-in-class provider like First Data. The depth and breadth of their solutions will enhance our ability to provide a full range of merchant services solutions to our commercial customers," said David B. Ramaker, Chemical's Chairman, CEO and President. "This relationship will better position us to meet the diverse banking needs of our business customers across the state of Michigan."