Kohl’s to Partner with First Data on Private Brand Credit Card Processing
January 20 2011 - 9:00AM
Business Wire
First Data Corporation, a global leader in electronic commerce
and payment processing, today announced it has entered into an
agreement with Kohl’s Department Stores (NYSE: KSS) to provide
payment processing services for the company’s private brand credit
card accounts.
The multi-year agreement calls for First Data to provide Kohl’s
with credit card processing, customer analytics, risk management
services and automated customer service workflow tools. Financial
terms of the agreement were not disclosed. Kohl’s partnership with
First Data will not affect Kohl’s current credit card arrangement
with Chase or the company’s previously announced agreement with
Capital One.
“We’re pleased to partner with First Data and value their
technological capabilities, system flexibility and broad portfolio
of innovative services,” said Wes McDonald, Kohl’s senior executive
vice president and chief financial officer. “Choosing a world-class
partner for payment processing with an ability to respond to the
changing payments landscape was important given the success and
ongoing growth of Kohl’s credit card program.”
“Helping drive our customers’ success is the ultimate goal of
First Data,” said Ed Labry, president, First Data – North America.
“Our strategic view of the payments industry, our ability to offer
the full spectrum of industry-leading services and the expertise of
our dedicated employees all play a role in achieving that
success.”
A conversion date is still being determined.
About Kohl’s
Based in Menomonee Falls, Wis., Kohl's (NYSE: KSS) is a
family-focused, value-oriented specialty department store offering
moderately priced, exclusive and national brand apparel, shoes,
accessories, beauty and home products in an exciting shopping
environment. Kohl's operates 1,089 stores in 49 states with a
commitment to environmental leadership. In support of the
communities it serves, Kohl's has raised more than $150 million for
children's initiatives nationwide through its Kohl's Cares(R) cause
merchandise program, which operates under Kohl's Cares, LLC, a
wholly-owned subsidiary of Kohl's Department Stores, Inc. For a
list of store locations and information, or for the added
convenience of shopping online, visit www.kohls.com.
About First Data
Around the world, every second of every day, First Data makes
payment transactions secure, fast and easy for merchants, financial
institutions and their customers. First Data leverages its vast
product portfolio and expertise to drive customer revenue and
profitability. Whether the choice of payment is by debit or credit
card, gift card, check or mobile phone, online or at the checkout
counter, First Data takes every opportunity to go beyond the
transaction.
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