First Data Corp. has signed a three-year extension of its contract to process Exxon Mobil Corp.'s Speedpass Network transactions.
Monday's announcement did not include the price of the agreement. The Denver payment processor has been handling Speedpass transactions since 1998.
Speedpass is a contactless radio frequency identification technology that lets people make purchases by moving a key-chain fob over a reader. The fob is linked to a payment card account, and a bill is generated later. There are more than 6 million active Speedpass fobs in the United States.
