First Data Renews Processing Contract with Dresdner Bank

Issuer processing co-operation extended to 2012

First Data International, a global leader in electronic commerce and payment solutions, has renewed its credit card processing contract with Dresdner Bank, part of the Allianz Group, for a further five years. First Data will continue to process transactions for one of the largest portfolios in the German market until at least 2012.

The portfolio comprises all Dresdner Bank’s classic, gold and business cards as well as co-branding cards with Allianz - one of the most successful co-branding Visa programmes in Germany. Dresdner Bank’s card strategy focuses on the introduction of innovative products (such as the credit card with a fuel bonus), and sustainable growth through further expansion of the credit card portfolio. The contract with First Data was first signed in 1999, and its extension will position First Data to also support the bank as it expands internationally.

Norbert Pawlowski, managing director of First Data’s operations in Germany, comments, “We are very pleased that Dresdner Bank has recognised the benefits of our positive working relationship. The renewal of our contract with such an important client in the German market provides the best proof of the reliability and quality of our services. We are now looking forward to also making an important contribution to the international expansion of Dresdner Bank.”

Siegbert Steinmetz, Head of Payments at Dresdner Bank, said about the contract renewal, “As an experienced partner, First Data is very important to our quality proposition. Operating globally, the company is highly experienced and well positioned to support the worldwide banking strategy of Allianz Group.”