First Data, Lloyds TSB renew processing agreement

First Data, Lloyds TSB renew processing agreement
Tags: Bank / Credit Union, North America, Outsourcing, Software, Transaction Processing
December 20, 2006

LONDON - First Data International has renewed its agreement with U.K.-based Lloyds TSB for transaction processing services.

First Data will continue to process the bank's credit card portfolio in the United Kingdom and will provide a range of customer-facing and back-office services.

The new seven year agreement, effective 2008, also includes conversion of the Lloyds TSB card portfolio to First Data's VisionPLUS processing platform.

"First Data's payments expertise, their commitment to our business and the global credentials and functionality of VisionPLUS proved a great combination," said Colin Walsh, director of credit cards and operations, consumer banking, for Lloyds TSB.