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Amex, First Data Sign Processing Deal |
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American Express and First Data Corp. have signed an
agreement under which First Data will offer American Express Card acceptance as
part of an integrated solution for small- and medium-sized merchants. Specific
terms and conditions of the agreement are not being disclosed.
Under the agreement, American Express will retain the
acceptance contract with participating merchants, establish merchant pricing,
and receive the same transactional information it does today. First Data will
provide payment processing services to merchants on behalf of American Express
for American Express card transactions under the new agreement. New merchants
who sign up for the program will receive an easy, cost-effective, all-in-one
solution with the convenience of a single source for statements, settlement and
customer service for all major card brands. The program will be available to
merchants that are new to American Express Card acceptance in the second
quarter of 2008.
"First Data continues to bring innovation to the
marketplace that is focused on customer-based solutions," said Brian
Mooney, president of First Data Merchant Services. "Through our
relationship with American Express, merchants will benefit from a single
payment for all major card transactions, consolidated statements, a single
point of contact for all customer service, and a one stop shop for all their
payment needs."
"This innovative program with First Data offers small
to mid-size merchants the choice of a new way to streamline payment acceptance
so that they can focus more time on serving customers and growing their
business," said Kim Goodman, executive vice president, Merchant Services
North America, American Express. "Consumers will also enjoy the
convenience of being able to use the American Express Card at even more
locations and the opportunity to earn valuable rewards whenever they use their
Card."
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