Electronic commerce and payments leader First Data Corp. announced its card processing subsidiary, First Data Resources, has signed a multi-year contract renewal with Scotiabank Inverlat.
Scotiabank Inverlat is a leading banking institution in Mexico with headquarters in Mexico City. The bank will partner with First Data to receive bankcard processing and other card portfolio management services.
“As a 30-year leader of the card industry, First Data provides us access to a unique array of products and services that help Scotiabank Inverlat execute its plans to grow and diversify our portfolio,” said Carlos San Martin, director of central operations for Scotiabank Inverlat. “We are pleased with First Data’s commitment to providing the advanced tools and technology we need to serve our cardholders and gain a competitive advantage in the marketplace.”
Scotiabank Inverlat has been a First Data client since 1994. In addition to Scotiabank Inverlat, First Data processes for three leading financial institutions in Latin America.
“Scotiabank Inverlat is a leader in the Mexican card marketplace and we are very pleased to continue providing the state-of-the-art functionality and expertise needed to successfully manage and grow its card business,” said Eula Adams, senior executive vice president and head of worldwide card operations for First Data. “In addition, this agreement underscores our international growth strategy and our commitment to provide leading-edge payment services to Latin America and other international markets.”
First Data processes for nearly 300 million accounts on file around the world. For more than 30 years, First Data has developed products and services which enable card issuers to enhance their portfolio growth, increase market share, reduce risk and improve profitability.
About Scotiabank Inverlat
Grupo Financiero Scotiabank Inverlat S.A. de C.V. is one of the principal financial groups in Mexico, with more than 400 branches and almost 1,000 ATMs throughout Mexico. First quarter net income after tax for the Group was $31 million (P$183 million). Scotiabank has a 55% ownership stake in Inverlat. The Group employs approximately 7,200 people across its three main affiliates, Scotiabank Inverlat S.A., Scotia Inverlat Casa de Bolsa S.A. de C.V. and Scotia Inverlat Casa de Cambio S.A. de C.V. Together, these companies offer an integrated suite of financial products and services for the entire spectrum of customers – from individuals and small businesses up to the most sophisticated multinational corporations. See Scotiabank Inverlat at [www.scotiabankinverlat.com].
Scotiabank is one of North America’s premier financial institutions, with about $275 billion in assets and approximately 52,000 employees worldwide, including affiliates. It is also Canada’s most international bank with more than 2,000 branches and offices in over 50 countries.
About First Data
First Data Corp. (NYSE: FDC), with global headquarters in Denver, powers the global economy. As the leader in electronic commerce and payment services, First Data serves approximately 2.6 million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services using virtually any form of payment. With 27,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; Western UnionÂ® money transfers and money orders; and check processing and verification services throughout the United States, United Kingdom, Australia, Canada, Mexico, Spain and Germany. Its money transfer agent network includes approximately 109,000 locations in more than 186 countries and territories. For more information, please visit the company’s Web site at [www.firstdata.com].