First Data expands agreement with Latin American FI

MEXICO CITY - First Data Corp. has renewed its payment-processing agreement with BBVA Bancomer, according to a news release. First Data will support BBVA Bancomer's retail business in Mexico, and will provide payment-processing services to Finanzia USA, a BBVA subsidiary, supporting its credit card and retail operations in the United States.

First Data has been providing BBVA Bancomer with credit card processing services since 1994.

"First Data's global experience was key in our decision to expand our relationship with them," said Ricardo Grebe, operations director, BBVA Bancomer.

BBVA Bancomer is one of the largest financial institutions in Mexico, the second largest market in Latin America based on number of bank cards, according to The Nilson Report.