24.08.2005 13:15:00
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First Data Expands Agreement with BBVA Bancomer; Relationship with Leading Latin American Financial Institution Grows beyond Mexico
This agreement builds on the existing relationship between FirstData and BBVA Bancomer. First Data has provided credit card processingservices to the bank since 1994. BBVA Bancomer is one of the largestfinancial institutions in Mexico, the second largest market in LatinAmerica based on number of bank cards according to The Nilson Report.
"First Data's global experience was key in our decision to expandour relationship with them," said Ricardo Grebe, operations director,BBVA Bancomer. "They have proven their commitment to our clients inMexico and we know they will provide the same level of quality servicefor our U.S. clients as well."
"We are pleased to renew and expand our relationship with BBVABancomer, an innovative company with an exciting future," said PamPatsley, president, First Data International. "We remain committed tocontinuing our growth in Latin America by expanding our serviceoffering and allowing our customers to focus on their core businesswhile increasing efficiencies and cost effectiveness in a constantlyevolving market."
"As a premier financial institution in Mexico, BBVA Bancomer is animportant client for First Data, and we are pleased to have beenchosen as their payment processor for their operations in Mexico andthe U.S.," said Peter Harrington, president, Latin America & Canada,First Data International. "First Data's dedication to expanding clientrelationships and ensuring client satisfaction is evident with thisagreement, and we look forward to continuing our relationship withBBVA Bancomer for many years to come."
About BBVA Bancomer
BBVA Bancomer is the main subsidiary of Grupo Financiero BBVABancomer (GFBB) and the leading banking institution in Mexico in termsof assets, deposits, loans and number of branches. BBVA Bancomeroffers personal, commercial and corporate financial products andservices through 1,687 branch offices and 4,172 ATMs with a businessmodel based on distribution networks segmented by groups of customers.Grupo Financiero BBVA Bancomer is Mexico's leading private financialgroup providing services to more than 10.2 million customers. GFBB isalso a controlling affiliate of Banco Bilbao Vizcaya Argentaria(BBVA), one of the top financial groups in market capitalization inthe Euro Zone. BBVA has presence in 35 countries with 7,113 offices,more than 35 million customers and 91,237 employees worldwide, out ofwhich almost two thirds are based in America. For further informationvisit: www.bancomer.com
About First Data
First Data Corp. (NYSE:FDC) is a leading provider of electroniccommerce and payment solutions for businesses and consumers worldwide.Serving 4.1 million merchant locations, 1,400 card issuers andmillions of consumers, First Data powers the global economy by makingit easy, fast and secure for people and businesses around the world tobuy goods and services using virtually any form of payment. Thecompany's portfolio of services and solutions includes credit, debit,private-label, smart and stored-value card issuing and merchanttransaction processing services; money transfer services; moneyorders; fraud protection and authentication solutions; check guaranteeand verification services through TeleCheck; as well as Internetcommerce and mobile solutions. Western Union and its subsidiary,Orlandi Valuta, together make up one of the world's largest moneytransfer networks with approximately 233,000 Agent locations in morethan 200 countries and territories. The company's STAR Network offersPIN-secured debit acceptance at 1.7 million ATM and retail locations.For more information, visit www.firstdata.com.
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