Electronic Data Systems Inc. has signed a $200 million, 10-year contract to operate payment processing for Equifax Payment Services, a unit of Atlanta-based Equifax Inc.
An EDS spokesman said it is the company's largest card processing deal. EDS will process for St. Petersburg, Fla.-based Equifax Payment's 6,000 bank and credit union clients and 100,000 merchants.
By outsourcing its payment processing, Equifax said, it can focus on developing its credit card processing, retail check risk- management services, and electronic banking solutions.
The agreement calls for 130 employees of Equifax Payment Services to work for EDS in Equifax Payment's data center.