Wells Fargo Moves Wachovia Credit Card Portfolios to First Data
Wells Fargo & Company has expanded its agreement 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 personalisation and fraud services for Wells Fargo’s seven million plus cardholder accounts within its consumer credit and small business card portfolios.
Wells Fargo will add 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.