The transaction processor First Data Corp. has renewed and expanded a card-issuing agreement with Wells Fargo & Co.
The Denver processor, which announced the agreement Monday, will handle Wells Fargo's consumer and small-business card processing. It said the renewal also includes some new portfolios, though spokeswomen for both companies declined to provide any information on the new portfolios.
The long-term contract covers statement production, mailings, card personalization, and fraud services for the San Francisco banking company's 7 million cardholders. Neither the value nor the duration of the deal were announced.
Wells Fargo has been a First Data customer since 1971. The two also operate a merchant acquiring joint venture, Wells Fargo Merchant Services LLC.
