Today First Data (NYSE: FDC), a global leader in commerce-enabling technology, and Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NYSE:VLY), announced that they have entered into a long-term agreement to provide secure commerce solutions for the bank’s merchant clients.
The referral relationship will provide First Data’s cutting-edge solution suite, including First Data’s Clover platform, to Valley National Bank’s business client base across their network of more than 200 branches in New Jersey, New York, and Florida.
“Valley National Bank has a long history of providing its clients with superior service, and we are thrilled to be in business with this terrific partner,” said Chris Foskett, Executive Vice President, Head of Business and Corporate Development, First Data. “Like Valley National Bank, First Data is focused on bringing personalized service and customized solutions to our clients. We look forward to supporting Valley National Bank’s clients with our innovative solution suite.”
“We are excited about the opportunity to partner with First Data as we continue to focus on simplifying payment processing solutions for our commercial clients,” remarked Valley National Bank Senior Executive Vice President and Chief Consumer Banking Officer, Dianne Grenz. “This new relationship will help us deliver the unique and innovative solutions our business clients need to be successful in today’s global commerce industry.”
As part of the long-term deal, Valley National Bank’s merchant clients will have access to First Data’s Clover platform, a comprehensive suite of hardware and software point-of-sale solutions that supports businesses of all sizes. The platform features 300 apps designed to help businesses run more efficiently, as well as the recently-announced Clover Flex, a smart payment terminal that fits comfortably as a handheld device or on the countertop. The Clover platform also features Clover Capital, a financing solution designed to help small and mid-sized merchants meet their ongoing liquidity requirements by providing rapid access to capital.
In addition, First Data’s Clover platform allows for easy integration with software that caters to specific business segments, such as restaurants, hair salons, or specialty retailers. Through these integrations Clover can meet the unique needs of merchants across a variety of verticals. Valley National Bank will also have access to First Data’s eCommerce solution set, which includes a range of tools for everyone from local small businesses to large retailers to seamlessly accept online or mobile transactions.
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