Long-Term Client Will Continue to Use Variety of Services
OMAHA, Neb., Dec 20, 2006 (BUSINESS WIRE) -- Electronic commerce and payments leader First Data Corp. (NYSE: FDC) today announced that Advanta Corp. (NASDAQ: ADVNB) (NASDAQ: ADVNA), through its wholly owned subsidiary Advanta Bank Corp., has renewed its agreement with the company for small business credit card processing services. Under the terms of the long-term contract extension, First Data will continue to provide comprehensive card processing services, including transaction processing, statement production and mailing, plastics personalization and fraud services for over 1 million Advanta customers.
"We have enjoyed a long and successful relationship with First Data and are pleased with this extension," said Advanta Chairman and CEO Dennis Alter.
"We're very pleased to renew our service agreement with Advanta, a valuable, long-term customer and leading issuer of MasterCard small business credit cards," said Susan Henricks, president, First Data Resources. "We continue to invest in our platform in order to provide our clients with the tools they need to retain customers and grow revenue and are rewarded with renewals such as this one."
Advanta has been a First Data client since 1996. Financial terms of the long-term renewal were not disclosed.
About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses worldwide. Serving 4.6 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 Advanta
Advanta focuses on the small business market and related community, providing funding and support to the nation's small businesses and business professionals through innovative product offerings and services. Using its direct marketing and information-based expertise, Advanta identifies potential customers and provides a high level of service tailored to the needs of small businesses. Advanta is one of the nation's largest issuers (through Advanta Bank Corp.) of business credit cards to small businesses and business professionals. Since 1951, Advanta has pioneered many of the marketing techniques common in the financial services industry today, including remote lending and direct mail, affinity, and relationship marketing. Learn more about Advanta at www.advanta.com.
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SOURCE: First Data Corp.
First Data
Donna Pennington, 402-222-6178
donna.pennington@firstdatacorp.com
or
Advanta
David Goodman, 215-444-5073
dgoodman@advanta.com
Copyright Business Wire 2006
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