First Data, the global technology and payments processor, has announced that PNC Financial Services Group has renewed and expanded its agreement for transaction processing services.
Under the agreement, First Data will provide signature debit, PIN debit and ATM processing services, ATM terminal driving, credit card, small business and home equity loan processing, fraud and collections services, remittance processing, prepaid processing as well as plastic, statement and letter production services.
Reportedly, PNC will transfer some credit card processing not currently with First Data as well as adding PIN debit and ATM processing it had gained through its acquisition of National City Corp. However, the financial terms of the agreement are not being disclosed.
The company claimed that it has been providing transaction processing services to PNC since 1992 and servicing more than 15 million total accounts on file for PNC.
