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First Data, Chemical Financial enter merchant processing deal

Friday 22 June 2012 | 07:50 AM CET

US-based electronic commerce and payment processing company First Data has entered a long-term merchant processing agreement with financial institution Chemical Financial.

As part of the deal, First Data will provide merchant payment processing services to Chemical Bank’s commercial customers via the bank’s customer-facing channels, including their 142 branch network across Michigan. First Data will be in charge with operations, risk management and merchant sales activities.

Chemical Bank has 142 banking offices across more than 32 counties in the lower peninsula of Michigan. At the end of March 2012, the bank had total assets of USD 5.5 billion. First Data provides merchants, financial institutions and their customers with payment by debit or credit card, gift card, check or mobile phone, online or at the checkout counter.

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