FIRST DATA & WAUSAU FINANCIAL SYSTEMS EXPAND RELATIONSHIP LONG-TERM AGREEMENT COMBINES TECHNOLOGY AND SERVICES FOR END-TO-END OF
DENVER/MOSINEE, WIS., Oct. 16, 2008 (AllPayNews.com) – Remittance processing partners, WAUSAU Financial Systems (WFS) and REMITCO LLC, a wholly-owned subsidiary of First Data Corp., have entered into a new agreement that expands WFS’ proprietary software solutions into a full service offering.
Under the agreement, WFS will provide multiple levels of service that allow organizations to choose end-to-end remittance processing or a more limited solution that can grow over time. The expanded solution can be used by a number of industries, including financial services, utilities and insurance companies.
First Data, a global technology leader in information commerce, will host the software environment, manage the service facilities, and provide the labor necessary to process the transactions. The agreement also calls for First Data to beta test new WFS product development and new releases and upgrades to the software.
The WFS payments solution is third-party accredited as being best-of-breed by Celent and Aite Group. The WFS remittance solution supports nearly 4 billion transactions annually. REMITCO has used the WAUSAU Financial Systems software within its lockbox network for nearly five years.
“Funding internal resources to keep up with technology advances has proved challenging for both large and small organizations. This expanded relationship provides both corporate and financial institutions with innovative solutions that increase efficiencies and reduce costs, thereby allowing businesses to reinvest capital dollars and grow,” said Joe Delgadillo, president and CEO for WAUSAU Financial Systems. “This partnership is now uniquely positioned to provide superior solutions and services to the market and we are pleased to be partnering with First Data to do so.”
“With WAUSAU Financial Systems, we saw a tremendous opportunity to build on our existing technology relationship to deliver innovative new technology and expand the services available,” said Sally Else, general manager of First Data’s Issuing and Payment Services. “This is a great example of First Data’s commitment to constantly seek innovation and new technology in all that it delivers to the marketplace.”
About WAUSAU Financial Systems
WAUSAU Financial Systems (WFS) is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU Financial Systems works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU Financial Systems’ innovative solutions provide results for a wide range of organizations, including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU Financial Systems at www.wausaufs.com.
About First Data
First Data is a global technology leader in information commerce. The company processes transaction data of all kinds, harnesses the power of that data and delivers innovations in secure infrastructure, intelligence and insight for its customers. With operations in 37 countries, First Data serves over 5.4 million merchant locations, 2,000 card issuers and their customers. It 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 2.1 million ATM and retail locations. Through First Data’s centers of excellence, such as security, analytics, customer loyalty and mobile payments, it offers data-driven commerce solutions for customers around the globe. For more information, visit www.firstdata.com.
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