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Wells Fargo & Co. has expanded its processing agreement with First Data Corp. and intends to move its recently acquired Wachovia Corp. credit card portfolio to First Data's processing platform, according to First Data and Wells Fargo. Wells Fargo completed its purchase of Wachovia in December (CardLine, 12/23). Wachovia has roughly 1 million active credit card accounts, according to a Wells Fargo spokesperson. First Data already provides data-processing, card-personalization and other services for Wells Fargo's more than 7 million consumer credit and small-business accounts. Under the expanded agreement, First Data also will provide services for Wachovia credit card accounts, Wells Fargo private-label card accounts and a personal credit management line of credit accounts. The agreement does not include the former Wachovia's debit cards, a First Data spokesperson confirms to CardLine. "The number of additional cards and timeframes are additional terms that are not being disclosed," states the spokesperson.
