First Data Corp. said SunTrust Banks Inc. has signed on to use the vendor's Star Network as its exclusive carrier of automated teller machine transactions and PIN-debit sales.
SunTrust, an Atlanta regional banking company, chose First Data's Star after "an exhaustive evaluation of leading providers in the market," Steve Karp, SunTrust's senior vice president of enterprise payments strategy, said in a press release Monday.
First Data described the deal as multiyear but did not disclose other terms.
First Data, which is owned by Kohlberg Kravis Roberts & Co., also supplies SunTrust with signature debit and credit card production and processing services, as well as merchant processing services for SunTrust's business and commercial clients.
