BBVA Bancomer renews First Data payment processing contract

Source: First Data

First Data Corp. (NYSE: FDC), a global leader in electronic commerce and payment services, today announced that it has renewed its payment processing agreement with BBVA Bancomer.

First Data will support BBVA Bancomer's retail business in Mexico, and will provide payment processing services to Finanzia USA, a BBVA subsidiary, supporting its credit card and retail operations in the United States.

This agreement builds on the existing relationship between First Data and BBVA Bancomer. First Data has provided credit card processing services to the bank since 1994. BBVA Bancomer is one of the largest financial institutions in Mexico, the second largest market in Latin America based on number of bank cards according to The Nilson Report.

"First Data's global experience was key in our decision to expand our relationship with them," said Ricardo Grebe, operations director, BBVA Bancomer. "They have proven their commitment to our clients in Mexico and we know they will provide the same level of quality service for our U.S. clients as well."

"We are pleased to renew and expand our relationship with BBVA Bancomer, an innovative company with an exciting future," said Pam Patsley, president, First Data International. "We remain committed to continuing our growth in Latin America by expanding our service offering and allowing our customers to focus on their core business while increasing efficiencies and cost effectiveness in a constantly evolving market."

"As a premier financial institution in Mexico, BBVA Bancomer is an important client for First Data, and we are pleased to have been chosen as their payment processor for their operations in Mexico and the U.S.," said Peter Harrington, president, Latin America & Canada, First Data International. "First Data's dedication to expanding client relationships and ensuring client satisfaction is evident with this agreement, and we look forward to continuing our relationship with BBVA Bancomer for many years to come."

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