22.11.2005 12:00:00
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First Data Grows TeleCheck Services Relationship with Wal-Mart and Sam's Club Stores; Check Acceptance Leader Expands Relationship with Wal-Mart
"Over the past year and a half we've developed a comprehensiveplan for check processing. TeleCheck's authorization, collections, andthe TeleCheck Electronic Check Acceptance(R) (ECA(R)) service areintegral parts of that strategy," said Becky Garrett, Wal-Martdirector of financial operations.
The expanded relationship encompasses four check service areas.First, Wal-Mart is increasing its use of the TeleCheck ECA service byintroducing it into additional markets. The expanded use of the ECAservice demonstrates Wal-Mart's continuing commitment to providingconsumers with convenient payment options at the point of sale.
Additionally, TeleCheck is providing Wal-Mart stores with a newway to process paper checks in real time. TeleCheck has the ability todifferentiate high and low-risk paper check transactions at the pointof sale and process them accordingly. For riskier transactions,TeleCheck is providing Wal-Mart its adaptive decisioning tools, whilelow-risk transactions are approved via a real-time negative databaseof returned check information.
TeleCheck is also now the primary provider of check collectionservices for Wal-Mart and Sam's Club stores. This augments TeleCheck'sposition as a leading provider of paper check collections services.
Finally, TeleCheck will host all shared negative database filesfor Wal-Mart. TeleCheck will provide returned check data to Wal-Mart,and Wal-Mart's returned check data will continue to feed TeleCheck'sdatabase.
"We are excited about the opportunity to expand our long-termpartnership with Wal-Mart, and as a part of First Data's point-of-salestrategy, are committed to ensuring our check services contribute tothe success of Wal-Mart and meet the needs of their customers," saidBrian Mooney, who leads First Data's TeleCheck business. "Wal-Martcontinues to be a valued partner who shares our vision for focusing onconsumer needs."
About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electroniccommerce and payment solutions for businesses and consumers worldwide.Serving 4.1 million merchant locations, 1,500 card issuers andmillions of consumers, First Data powers the global economy by makingit easy, fast and secure for people and businesses around the world tobuy goods and services using virtually any form of payment. Thecompany's portfolio of services and solutions includes credit, debit,private-label, smart and stored-value card issuing and merchanttransaction processing services; money transfer services; moneyorders; fraud protection and authentication solutions; check guaranteeand verification services through TeleCheck; as well as Internetcommerce and mobile solutions. Western Union and its subsidiary,Orlandi Valuta, together make up one of the world's largest moneytransfer networks with approximately 242,000 Agent locations in morethan 200 countries and territories. The company's STAR Network offersPIN-secured debit acceptance at 1.7 million ATM and retail locations.For more information, visit www.firstdata.com.
About Wal-Mart Stores
Wal-Mart Stores, Inc. operates Wal-Mart Stores, Supercenters,Neighborhood Markets, and Sam's Club locations in the United States.Internationally, the company operates in Argentina, Brazil, Canada,China, Germany, Japan, Mexico, Puerto Rico, South Korea, and theUnited Kingdom. The company's securities are listed on the New Yorkand Pacific stock exchanges under the symbol WMT. More informationabout Wal-Mart can be found by visiting www.walmartfacts.com. Onlinemerchandise sales are available at www.walmart.com.
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