First Data adds Sears Cards to Citibank deal

First Data adds Sears Cards to Citibank deal
Tags: Bank / Credit Union, Debit / Credit, Public Companies, Transaction Processing
June 26, 2005

DENVER, Colo. - Electronic commerce and payments leader First Data announced in a June 24 news release that it has expanded its relationship with Citibank.

The two companies have signed a long-term processing agreement that would expand their existing relationship to include processing services for the Sears Holding Corp. Card Portfolios.

The extended partnership calls for a focus on private label and co-brand bankcards, in addition to accounts currently processed for Citibank. First Data is expected to add the Sears co-brand bankcard and private label card portfolios during the second quarter of 2006.