Nordstrom Forms Payment Processing Agreement with First Data

Nordstrom fsb forms a new payment processing agreement with First Data. The seven-year agreement calls for First Data to provide card processing, call center and back office automation tools, fraud and risk management, customer analytics as well as e-statements and e-mail alerts for Nordstrom's entire card portfolio including Nordstrom Visa, private label credit and debit cards and commercial cards for Nordstrom employees. The portfolio totals about 4.5 million card accounts on file.

"We are always looking at ways to improve the experience our customers have with us, even regarding details such as how we process our credit transactions," says Kevin T. Knight, chairman and chief executive officer of Nordstrom fsb, president of Nordstrom Credit. "We're pleased to partner with First Data, a company that has such a strong reputation for their technological capabilities and expertise, and has a clear understanding of our strategic needs."

Nordstrom works with First Data's TeleCheck unit for check verification services. The new processing contract with Nordstrom fsb runs through March 2016.
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