GE Consumer Finance-Canada Acquires Small Business MasterCard Portfolio from First Data
First Data Corp. has announced that it has entered into an agreement for GE Consumer Finance to acquire FDC's First Data Loan Company Canada small business MasterCard portfolio in Canada. FDC will provide card processing services for the accounts.
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," said 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.""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 chief executive officer of GE Consumer Finance-Canada.
"MasterCard Canada is very pleased to welcome GE to the growing ranks of MasterCard card issuers in the Canadian market," said Kevin Stanton, president, MasterCard Canada. "GE will bring additional choice and innovative product options for customers."
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