FAIRFAX, Va. -- Mobil Corp. said it has signed a letter of intent to outsource its credit card processing to First Data Resources. Omaha.
Mobil and the unit of First Data Corp. said they hope to conclude contract negotiations within a few months.
First Data would take over the operations handled by Mobil Oil Credit Corp. in Lenexa, Kan. All 270 Mobil employees affected by the agreement would be offered jobs with First Data, said Mike Goldberg, general manager for financial and information services in Mobil's U.S. marketing and refining division.
Mobil will continue its private-label card program, which has seven million customers. More than 40% of the company's gasoline sales are paid for with Mobil or other credit cards.
"We made an extensive study of 13 companies, including our own, before choosing First Data Resources," Mr. Goldberg said. He added that outsourcing would let Mobil cut costs and add flexibility to its credit card strategy.
Another major petroleum retailer, Exxon Co. USA, is in the process of transferring its Texas-based credit card business to General Electric Co's GE Capital unit.
