First Data Retail Management Services has announced a three- year processing agreement with Avco Financial Services Inc. for its private-label card portfolio.
Avco, a Costa Mesa, Calif.-based unit of Textron Inc., offers consumer and real estate loans, and purchases installment contracts from appliance and furniture stores. It has 1,200 branch offices.
First Data Retail Management Services is handling cardholder and merchant data processing and other card portfolio management services.
The agreement "is evidence of the confidence Avco has in our ability to deliver innovative technology and new products and services to help our clients grow in their private label market share," said Bill Ott, president of the First Data unit..