First Data Buying Instant Cash From Wells Fargo

Summary

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First Data Corp. is purchasing Instant Cash Services from Wells Fargo Bank. Instant Cash Services includes the Instant Cash Network. The companies announced March 16 they have signed a definitive purchase agreement. First Data will continue to operate the Instant Cash Network under the Instant Cash brand. Instant Cash Services provides debit card and ATM payment processing services for more than 500 community banks, credit unions, thrifts and non-financial institutions in 20 states. The transaction will not affect Wells Fargo's ATM banking network of 6,700 ATMs in 23 states. Financial terms of the transaction were not disclosed. Instant Cash Services is a natural fit with First Data. This acquisition supports the company's strategy of securing transaction processing volume and integrating high quality, value-added products and services, said Todd Strubbe, president of First Data Debit Services.

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First Data Buying Instant Cash From Wells Fargo

First Data Corp., is purchasing Instant Cash Services from Wells Fargo Bank. N.A. Instant Cash Services includes the Instant Cash Networ...

See the full content of this document

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