First Data Corporation today announced that it has expanded its relationship with SAV Credit Limited, a leading specialist credit card provider in the United Kingdom. In addition to supporting all of SAV’s existing credit business, First Data will also support the retail co-branded card business SAV Credit recently acquired from Santander, following a transitional service period.
Under this long-term agreement, First Data will process the card accounts on FirstVision, its strategic card issuing and consumer finance processing platform, to provide a wide range of services including fraud and risk management, loyalty and fulfilment solutions as well as cardholder acquisition and credit management. In addition, First Data will support SAV Credit in enhancing the customer experience for its co-brand cardholders through digital innovations.
In May, SAV Credit completed the acquisition of Santander UK’s retail co-brand card and point-of-sale finance business, which comprises retail relationships with many of the UK high street’s most recognisable brands, including The Arcadia Group, Debenhams, House of Fraser, Laura Ashley and others, with over 3.5 million customer accounts.
“When you acquire a portfolio of this size it is important to have a trusted partner that has experience in successfully completing large-scale migrations,” said James Corcoran, SAV Credit’s chief executive officer. “We have been working with First Data for a number of years now, and through its wide range of services and deep industry knowledge it has become a key partner for us.”
Keith Rowling, managing director, UK & Ireland at First Data, said, “We are delighted that SAV Credit has chosen to expand its relationship with First Data, and depend on us to support its newly-acquired card portfolio. By utilising First Data’s global expertise and proven systems, SAV Credit can continue to focus on attracting new customers and bring innovations to the card market. We are looking forward to being part of SAV Credit’s continued growth and success and welcome this additional vote of confidence in our people, processes and systems.”
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