Sorry about that, I don't know what happened to my post. The PR message was still available on Yahoo but I had to go back to the BETT thread to find it. Here it is.....
Friday July 24, 5:04 pm Eastern Time
Company Press Release
SOURCE: First Data Financial Services
First Data Financial Services, BA Merchant Services, USA Processing
Form Gaming Funds Transfer Joint Venture
ENGLEWOOD, Colo., July 24 /PRNewswire/ -- First Data Financial Services, the gaming funds transfer subsidiary of First
Data Corporation (NYSE: FDC - news), has entered into a joint venture agreement with BA Merchant Services, Inc. (NYSE:
BPI - news) and USA Processing.
The joint venture, which has yet to be named, will provide a full range of electronic funds transfer and other services to more
than 1,200 gaming properties nationwide. Services offered through the joint venture will include credit card, debit card, ATM,
Western Union(R) Money Transfer services, and check cashing services with authorizations by TeleCheck, the check
authorization and approval company. Western Union and TeleCheck are First Data subsidiaries.
Terms of the transaction were not disclosed.
''By combining the resources of our three companies, we are creating a true leader in the gaming funds transfer industry,'' said
Charles Fote, executive vice president, First Data Corporation. ''This joint venture will deliver an enhanced spectrum of
services to gaming properties and their patrons. It's a very positive development for each organization and its customers.''
BA Merchant Services, Inc. is the nation's fourth largest processor of credit card transactions and the largest processor of debit
card transactions. BA Merchant Services, Inc. is majority-owned by Bank of America NT&SA, which is a wholly owned
subsidiary of Bank America, a registered bank holding company. BA Merchant Services, Inc. stock is publicly traded and the
company has its own board of directors.
USA Processing, Inc. based in Sunnyvale, Calif., is one of the first non-bank institutions to provide electronic payment systems.
USA Processing offers a complete range of electronic transactions products and services for the gaming, banking and retail
industries.
Hackensack, N.J.-based First Data Corporation is a global leader in payment systems, electronic commerce and information
management products and services. First Data and its principal operating units process the information that allows millions of
consumers to pay for goods and services by credit, debit or smart card at the point of sale or over the Internet; by check or
wire money. Please visit the Company on the Internet at www.firstdatacorp.com. |
