PSCU, First Data to mark 25-year payments processing partnership

CUSO credits industry leadership and Member-Owner growth to strategic and collaborative relationship with world leader in payments technology
(PR NewsChannel) / October 10, 2014 / ST. PETERSBURG, Fla. 

PSCUPSCU, the nation’s leading credit union service organization, and First Data Corporation, the global leader in payment technology and services solutions, will celebrate their 25-year partnership in growth and innovation at PSCU’s St. Petersburg, FL headquarters on October 15, 2014, the CUSO announced today.

Since the partnership began in 1989, PSCU has become one of First Data’s largest clients by annual transaction volume in three key payments categories: debit, ATM Terminal Driving and credit.

“The growth our Member-Owners have experienced with PSCU and First Data over the life of our relationship has been astounding,” said Mike Kelly, PSCU President & CEO. “PSCU originally converted 832,000 credit card accounts to the First Data platform. We are now processing over 18 million credit and debit card accounts combined on behalf of nearly 800 credit unions. That’s a powerful testament to each company’s commitment to collaboration, innovation and success for our clients.”

During the initial years of the partnership, PSCU offered essentially just one product – credit card processing through First Data– to its credit unions. Over the course of the past twenty-five years, PSCU evolved and expanded its financial services products to include debit, online bill payment, mobile apps, member self-service tools, fraud prevention and risk management, and 24/7/365 contact center support. “Thanks to the dedication and support of First Data and their talented team, PSCU and its Member-Owners are positioned to continue to deliver innovative and secure payment technologies including chip-enabled credit and debit cards and mobile payments,” added Kelly.

“First Data’s purpose is to help our clients grow their businesses and there’s no better example of how we do that than our relationship with PSCU,” said Frank Bisignano, First Data Chairman and CEO. “Early on, we realized that PSCU’s service model was perfect for helping credit unions compete and succeed in the marketplace. In addition to the value we have collectively delivered to PSCU’s Member-Owners for more than 25 years, our collaboration has had a significant impact on bringing competition to the marketplace, which has been beneficial for all parties in the payments ecosystem.”

Executives from First Data will host a reception on October 15 from 2 p.m. to 4 p.m. EDT at PSCU’s St. Petersburg, FL headquarters and present PSCU’s executive team with an award that recognizes the silver anniversary of the partnership.

About PSCU: Established in 1977, PSCU (St. Petersburg, Fla.) is the nation’s leading credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. The company is owned by nearly 800 member credit unions representing over 18 million credit, debit, prepaid, online bill payment, mobile and electronic banking accounts. Comprehensive 24/7/365 member support is delivered through four Contact Centers located throughout the United States that handle more than 18 million inquiries a year.

Through a focus on collaboration and initiatives to mine the collective intelligence from all corners of the cooperative, PSCU’s Member-Owners are positioned at the leading edge of innovation. The combination of PSCU’s commitment to leadership in mobility and excellence in risk management, strategic consulting and technology creates PSCU’s foundation for the strongest partnerships with its Member-Owners. For more information, visit the PSCU website at www.pscu.com.

About First Data: First Data is a global technology leader in the financial services industry. With 24,000 employee-owners and operations in 35 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world, from Main Street shops to the world’s largest corporations. Today, businesses in nearly 70 countries trust First Data to secure and process more than 2,000 financial transactions per second, totaling $1.8 trillion a year. First Data’s unparalleled infrastructure, scale and partnerships go “beyond the transaction” with next-generation point-of-sale technology fueled by powerful analytics to detect fraud, gain insights into consumer spending, and strengthen customer loyalty. All day, every day, First Data helps its clients thrive in the evolving world of commerce.

MEDIA CONTACTS
Jim Major, PSCU
Phone:     (800) 443-7728 ext. 4189
Email:      jmajor@pscu.com

 

Cindi Kurczewski, First Data
Phone:       (404) 890-2428
Email:     Cynthia.kurczewski@firstdata.com

Direct link:  https://www.prnewschannel.com/2014/10/10/pscu-first-data-to-mark-25-year-payments-processing-partnership/

SOURCE:  PSCU



This press release is distributed by PR NewsChannel. Your News. Everywhere.