Electronic commerce and payments leader First Data Corp. (NYSE:FDC) today announced that Associated Banc-Corp has renewed its agreement for processing services.
First Data will continue to provide comprehensive processing services for credit cards connected to Associated's Home Equity line of business as well as general business credit cards.
In addition to card processing, First Data will continue to provide statement printing and mailing, plastics personalization, and fraud and risk monitoring tools. This agreement renews a relationship that has been in existence for more than 25 years.
"For more than 25 years, First Data has provided us with the right technology at the right time, to help us build stronger, more valuable relationships with our customers," said Val Glytas, Associated's consumer loan and card services director. "We look forward to continuing to benefit from their products and services as they continue to enhance their processing to provide even more ease of use and functionality."
"First Data's processing system delivers world-class functionality that is equal to or better than any competitor," said David Bailis, president, First Data Financial Institution Services. "This renewal is another example of the confidence our clients have in us to deliver value in systems, functionality and price."
The multi-year contract extension is effective immediately. Financial terms were not disclosed.