First Data signs merchant alliance deal with Citibank

First Data signs merchant alliance deal with Citibank
Tags: Bank / Credit Union, Debit / Credit, EFT Networks, Transaction Processing
August 10, 2005

DENVER - First Data Corp. is buying Citibank's current U.S.-based Citi Merchant Services unit, which provides credit and debit card payment processing services to approximately 15,000 merchant locations, according to a news release. First Data will manage the business in an alliance with Citibank.

"This alliance marks another major commitment to First Data's merchant alliance strategy," said John Shlonsky, president of First Data Merchant Services. "Citi Merchant Services clients will benefit from the expertise and expanded service offerings of First Data and Citibank."