Wells Fargo Grows First Data Card Relationship

Wells Fargo (San Francisco) has expanded its relationship with First Data for card processing services. Under the terms of the agreement, Wells Fargo will move its newly-acquired Wachovia credit card portfolios to First Data for comprehensive card processing services. First Data already provides data processing services, statement/letter production and mailing, plastic card personalization and fraud services for Wells Fargo's more than 7 million cardholder accounts within its consumer credit and small business card portfolios.

With the new agreement, Wells Fargo adds the Wachovia credit card accounts, the Wells Fargo Private Label card accounts and the Personal Credit Management line of credit accounts to the existing Wells Fargo portfolios serviced on First Data's system. Additional terms are not being disclosed.