First Data Renews PNC Processing Agreement
Broad-based service renewal includes new business
DENVER . - Global technology and payments processing leader First Data today announced that The PNC Financial Services Group (NYSE: PNC) has renewed and expanded its agreement for transaction processing services. Under the agreement, First Data will provide signature debit, PIN debit and ATM processing services, ATM terminal driving, credit card, small business and home equity loan processing, fraud and collections services, remittance processing, prepaid processing as well as plastic, statement and letter production services.
PNC will transfer some credit card processing not currently with First Data as well as adding PIN debit and ATM processing it had gained through its acquisition of National City Corp. PNC acquired National City on Dec. 31, 2008.
First Data has provided transaction processing services to PNC since 1992 and services more than 15 million total accounts on file for PNC. Financial terms of the agreement are not being disclosed.
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