Transaction processor First Data entered into a new payment processing agreement with Nordstrom fsb, a federally chartered thrift savings bank and wholly owned subsidiary of retailer Nordstrom, Inc.

The seven-year agreement will include card processing, call center and back office automation tools, fraud and risk management, customer analytics as well as e-statements and email alerts for Nordstrom's entire card portfolio that includes the Nordstrom Visa, the Scottsdale, AZ bank’s private-label credit and debit cards as well as commercial cards for Nordstrom employees. The portfolio totals about 4.5 million card accounts on file, according to a release, and financial terms of the agreement were not disclosed.

"We are always looking at ways to improve the experience our customers have with us, even regarding details such as how we process our credit transactions," said Kevin T. Knight, chairman and CEO of Nordstrom fsb, and president of Nordstrom Credit, Inc.

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