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First Data extends payment processing contract with Canadian bank

7th June 2007
By Julia Chan

Global electronic payments firm First Data International has extended its agreement with Laurentian Bank of Canada. As a result, First Data will continue to provide payment processing services for the bank's credit card portfolio.

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"We are pleased to expand our partnership with Laurentian Bank," said Peter Harrington, president for Latin America and Canada at First Data International. "They have been our client since 2000, and this contract extension is proof of Laurentian's trust in our ability to continually meet their evolving needs."

Laurentian Bank is a Quebec-based banking institution operating across Canada. It has a network or 158 bank branches, 29 commercial banking centers and 14 brokerage offices.

"Over the years, Laurentian Bank has developed a very effective working relationship with First Data," said Sylvain Malo, vice president of direct financial services at Laurentian Bank. "We chose to continue to use First Data's services because of the flexibility of their payment processing solutions. Moreover, their expertise is a very important element to help us grow and continue to be highly competitive in our market."

First Data has provided card processing services in Canada since 2000 and currently processes accounts on behalf of several leading card issuers in the region. Furthermore, the company is also a leading merchant acquirer of MasterCard transactions in the country, working with a wide range of merchants.

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