First Data Earns Processing Contract Renewal with PSCU Financial Services
OMAHA, Neb. & ST. PETERSBURG, Fla., Jul 09, 2007 (www.allCUnews.com) -- First Data Corp. (NYSE: FDC), a global leader in electronic commerce and payments, has signed a long-term contract extension with PSCU Financial Services, the nation's largest credit union service organization (CUSO). PSCU Financial Services has more than 500 member-owner credit unions that represent over 11 million debit and credit cardholder accounts.
Under the agreement, First Data will provide an extensive suite of credit and debit products to PSCU Financial Services and its member-owners, including debit and credit processing, ATM driving, fraud prevention services, plastics and statement production, data analytics and PIN-secured debit access via the STAR Network. First Data has provided credit and debit card processing for PSCU since 1989.
"We're committed to helping each of our member-owner credit unions better serve their membership. We offer robust products with competitive pricing from a single technology provider, a provider who not only understands our unique business needs, but who is also a strategic partner. First Data has been that partner for more than 15 years, and we're pleased to extend that relationship," said David J. Serlo, president of PSCU Financial Services. "Working with First Data allows us to help our credit unions across the country successfully manage and grow their portfolios while protecting themselves and their members with cutting-edge fraud products."
"We're investing in the product and service innovations that can help market-leading clients like PSCU Financial Services compete on a whole new level," said David Bailis, president of First Data Financial Institution Services. "First Data offers unique value to PSCU Financial Services thanks to the breadth and scale of our business. This includes new products that can help increase card activation and usage through more effective cardholder communication, tools to manage risk and minimize the impact of fraud, or technologies that introduce new payment methods and help extend their members' rapidly growing debit business."
About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses worldwide. Serving over 5 million merchant locations, 1,900 card issuers and their customers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com.
About PSCU Financial Services
As a cooperative, PSCU Financial Services supports 1,100 financial institutions and is owned by 500+ member credit unions representing over 11 million cardholder accounts. Its Contact Center handles more than 12 million inquiries a year.
PSCU Financial Services maintains its headquarters and Eastern operations center in St. Petersburg, Florida. The company is also supported by a West Coast operations center based in Phoenix, Arizona and a Midwest operations center in Detroit, Michigan. PSCU Financial Services is the nation's largest Credit Union Service Organization (CUSO).
Established in 1977, the company provides a broad array of cost-effective, high-quality financial services that include credit, debit, ATM, prepaid, bill payment, lending and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full-service to in-house pass through processing for credit, debit and ATM transactions. As the leader in the credit union industry, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit the company's Web site at www.pscufs.com.
SOURCE: First Data Corp.