Fifth Third Processing Solutions Recognized for Operational Excellence by MasterCard Worldwide
August 25 2009 - 3:03PM
PR Newswire (US)
CINCINNATI, Aug. 25 /PRNewswire/ -- Fifth Third Processing
Solutions has been awarded the MasterCard Worldwide "Best in Class"
Gold Award for its excellence in operational achievements. The
awards program annually acknowledges performance in key areas that
impact cardholder experiences. This marks the second consecutive
year that Fifth Third has been recognized for its payments
transaction processing excellence. Fifth Third was one of six
customers in North America, Europe and Asia-Pacific to be
recognized as a MasterCard Worldwide Gold Award winner. Accepting
the award on behalf of Fifth Third, Charles Drucker, CEO of Fifth
Third Processing Solutions, said: "We are delighted to be
recognized by MasterCard for our operational achievements in
quality. This award speaks to our team's best-in-class talent and
commitment in working with our valued processing partners to ensure
a pleasant payment experience for their customers. " MasterCard
Worldwide established the "Best in Class" Awards program in 2006 to
acknowledge customers that have attained exceptional operational
performance in MasterCard Quality Standards. Worldwide Gold Award
winners are customers that achieve the majority of the standards,
which include the following: cardholder satisfaction at the point
of sale through authorization of transactions, call referral rates
and chargeback performance. Fifth Third Processing Solutions
supports MasterCard debit card programs through the MasterCard
Worldwide Network for more than 600 financial institutions
including Fifth Third Bank. "Fifth Third Processing Solutions takes
pride of its tremendous operations performance and the positive
experience it has helped drive for millions of cardholders," said
Steve Alonso, executive vice president, Bankcard and Consumer
Lending at Fifth Third Bank. "As a recipient of this award for a
second consecutive year, Fifth Third Processing Solutions clearly
stands out among the strongest processors and acquirers in the
payments industry." The awards are designed to recognize excellent
customers for their operational achievements and provide useful
feedback for improving their operational performance while creating
a sense of urgency and understanding about the need to focus on
quality and performance excellence. Award winners are determined in
the first quarter of each year based on prior year data. Winners
must have annual authorization transaction counts of greater than
one million through the MasterCard Worldwide Network and be
compliant with all MasterCard Rules. About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a
critical economic link among financial institutions, businesses,
cardholders and merchants worldwide. As a franchisor, processor and
advisor, MasterCard develops and markets payment solutions,
processes approximately 21 billion transactions each year, and
provides industry-leading analysis and consulting services to
financial-institution customers and merchants. Powered by the
MasterCard Worldwide Network and through its family of brands,
including MasterCard , Maestro and Cirrus , MasterCard serves
consumers and businesses in more than 210 countries and
territories. For more information go to http://www.mastercard.com/.
About Fifth Third Bancorp Fifth Third Bancorp is a diversified
financial services company headquartered in Cincinnati, Ohio. The
Company has $116 billion in assets, operates 16 affiliates with
1,307 full-service Banking Centers, including 98 Bank Mart
locations open seven days a week inside select grocery stores and
2,354 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida,
Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial
Banking, Branch Banking, Consumer Lending, and Investment Advisors.
Fifth Third also has a 49% interest in Fifth Third Processing
Solutions, LLC. Fifth Third is among the largest money managers in
the Midwest and, as of June 30, 2009, has $180 billion in assets
under care, of which it managed $24 billion for individuals,
corporations and not-for-profit organizations. Investor information
and press releases can be viewed at http://www.53.com/. Fifth
Third's common stock is traded on the NASDAQ National Global Select
Market under the symbol "FITB." Fifth Third Processing Solutions,
LLC delivers innovative payment transaction processing and
acceptance solutions to create and support complex payment
strategies for merchants, businesses, and financial institutions
around the world. A pioneer in card payment acceptance in the early
1970s, Fifth Third Processing Solutions is headquartered in
Cincinnati, Ohio and is a joint venture with Advent International
and Fifth Third Bank. As a premier full service payment solutions
provider, the Company provides servicing solutions and product
engineering for financial institutions' and retailers' credit card,
debit card, merchant and private label programs processing over
28.4 billion ATM and point of sale transactions and over $292
billion in debit and credit card sales volume annually. The Company
supports over 173,000 merchant and financial institution locations
and 11,000 ATMs in 44 states and 11 countries. According to the
Nilson Report (March 2009), the Company is the fourth largest U.S.
merchant purchase transaction acquirer. Learn more at
http://www.ftpsllc.com/. DATASOURCE: Fifth Third Processing
Solutions CONTACT: Lynn M. Rhoads, Vice President, Communications
& Marketing, +1-513-534-7742; Stephanie Honan, Assistant Vice
President and Assistant PR Manager, Fifth Third Bank,
+1-513-534-6957 Web Site: http://www.53.com/
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