First Data Merchant Services, a subsidiary of global electronic commerce and payments leader First Data Corp, announced it has signed a long-term merchant processing agreement with Merchant First Bankcard, an Independent Sales Organization which focuses on small- and medium-sized merchants including retail, restaurant, mail/telephone order, wholesale, start-up, home-based and e-commerce.
First Data Merchant Services will provide Merchant First Bankcard with core accounting, front-end authorization processing, settlement, and selected back office merchant processing services. Under this agreement, the companies expect to bring in more than 50,000 new accounts.
Alan Gitles, president and chief executive officer of Merchant First Bankcard said, “We have worked with many processors over the years, but as we look to regain our dominance in the acquiring market, we are turning to First Data because of their proven expertise and commitment. First Data has responded to our needs with a unique, customized product to assist Merchant First Bankcard in facilitating rapid growth through ISO relationships. With this processing platform in place, Merchant First is positioned to expand into partnerships in the fastest growing segment of the merchant industry,” said Gitles.
Merchant First Bankcard, which is located in Schaumburg, Ill., is launching with a senior management team that together has more than 100 years of bankcard experience. Alan Gitles, CEO of Merchant First and an industry veteran, is the former CEO of American National Bankcard, which was sold two years ago. Under Gitles’ leadership, American National had the largest number of registered ISOs in the business. Drawing on this experience, Gitles plans to incorporate one of his foundation policies into Merchant First by ensuring the company has experienced telemarketing professionals who will generate highly qualified leads for all of its ISOs.
“We are very excited about partnering with Merchant First Bankcard as they re-enter the market. Their decision to sign a long term agreement with First Data Merchant Services validates our expertise in the merchant processing industry,” said Bob McNamara, Alliance Group President of First Data Merchant Services. “We have worked with Alan in the past, and look forward to building a new relationship.”
About First Data
Atlanta-based First Data Corp. (NYSE: FDC) helps move the world’s money. As the leader in electronic commerce and payment services, First Data serves more than two 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 more than 27,000 employees worldwide, the company provides credit, debit and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; Western Union money transfers and money orders; and check processing and verification services throughout the United States, United Kingdom, Australia, Mexico, Spain and Germany. Its money transfer agent network includes approximately 101,000 locations in more than 185 countries and territories. For more information, please visit the company’s Web site at [http://www.firstdata.com].
Merchant First Bankcard
Merchant First Bankcard, a new full service ISO, located in Schaumburg, Ill., possesses a senior management team with over 100 years in the bankcard industry. The company offers ISOs a unique telemarketing lead generation program which will again provide new cutting edge value added services to the ISO community. For more information, please visit the company’s Web site at [http://www.MerchantFirstBankcard.com].