First Data Corp. (NYSE: FDC), through its United Kingdom subsidiary First Data Resources Limited, today announced the signing of a long-term processing agreement with BMW Bank GmbH, Munich (BMW Bank) to launch a corporate card for UK subsidiaries of the BMW Group. Full processing, including application and new account processing, plastics personalisation, cardholder call centre services and initial collections procedures, will be performed by First Data’s UK operations centre in Basildon, and account relationship will be managed by First Data’s office in Nuremberg, Germany.
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“FDRL’s start up and conversion expertise was instrumental in being selected as the processor of choice by BMW Bank for their corporate cards,” said Gerald Hawkins, chief executive FDR Europe. “We are delighted to have the opportunity to work with BMW Financial Services, the first of our German clients to launch cards outside of Germany, and we look forward to fulfilling their international strategy through this and future high profile product launches.”
First Data also provides transaction-processing services to BMW Bank of North America, a subsidiary of BMW Financial Services. BMW Financial Services announced two BMW credit cards this summer: the BMW Ultimate Card, which awards points with every purchase that can be redeemed for rewards designed specifically for BMW drivers, and the BMW Card, a Visa Platinum card.
Based in Basildon, Essex, FDR Limited is the UK subsidiary of First Data Corporation. FDRL clients include major banks and other financial institutions in the UK, Germany, Spain and Saudi Arabia.
