GE Consumer Finance-Canada has signed an agreement to acquire the small business MasterCard portfolio in Canada of First Data Loan Company Canada. First Data will provide card processing services for the accounts.
We’re pleased with this acquisition and we’re committed to helping small business owners grow their businesses and run them more efficiently, said Stephen Motta, president and CEO of GE Consumer Finance-Canada.
This agreement will allow First Data to continue to focus on its core competency of providing leading third-party payment processing services to financial institutions around the world, commented Peter Harrington, president, First Data International, Latin America and Canada. First Data and GE have been partners for many years and we are excited to expand and strengthen this relationship.
First Data provides credit, debit, private-label, smart and stored value card issuing and merchant transaction processing services, Internet commerce solutions, money transfer and cheque processing services globally. Its Western Union and Orlandi Valuta money transfer networks include approximately 202,000 agent locations in more than 195 countries and territories.