DENVER - (06/22/06) First Data announced Wednesdayit has renewed its multi-year agreement with $6 billion Golden 1 CUto provide STAR Network access and PIN-debit processing for itsmore than 280,000 U.S. Cardholders. Golden 1 was one of theoriginal founders of STAR, now a wholly owned subsidiary of FirstData. The two parties also signed a deal for Golden 1 to conductits check and money order processing through Integrated PaymentsSystems, another wholly owned First Data unit. The Golden 1invested $150,000 to help start up STAR Network in 1994 along with19 other investors and earned $30 million on its STAR stake whenthe electronic funds network was sold to Concord EFS in 2001dsubsequently sold STAR to First Data in 2005.
First Data Still Golden With CUGiant
June 22, 2006, 1:00 a.m. EDT 1 Min Read
