STRATEGIC PARTNERS
October 18, 1999
OMAHA, Neb.-- With an eye toward on-line debit processing, First Data Resources, a subsidiary of First Data Corp., is purchasing Milwaukee-based USPI, LLC from Transaction Systems Architects for an undisclosed amount. First Data is the nation's leading processor of off-line debit card transactions, and USPI provides transaction processing services for the EFT industry, including on-line debit card processing and ATM switching. "This provides First Data with the ability to enter the on-line debit processing arena on behalf of our clients," said Kevin Kammer, president of debit services for FDR. "We have gained the expertise we need to be able to offer our clients a fully integrated debit processing solution." Under the agreement, approximately 60 employees will join First Data and will remain in Milwaukee. Like other processors, First Data has seen a significant jump in debit card transaction volume. As of Aug. 31, First Data processed over 658 million off-line debit card transactions -- a 47 percent increase in the number of transactions handled during the same period for the previous year. FDR currently provides off-line processing for more than 56 million debit cards issued by over 450 financial institutions.
