First Data Independent Sales History.
In 1969, the Mid-America Bankcard Association
(MABA) was formed in Omaha, Nebraska, as a non-profit bankcard
processing cooperative. Two years later, First Data Resources
(FDR) incorporated in June to become a for-profit organization
providing processing services to MABA. FDR had 110 employees
and $2 million in annual revenues.
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In 1980, American Express
Information Services Corporation (ISC) bought 80% of FDR.
The remaining 20% was purchased in 5% increments each subsequent
year until June 1983. First Data Corporation spun off from
American Express and went public in 1992. In 1995, the company
merged with First Financial Management Corp. (FFMC) and
was then organized into three major business units serving
card issuers, merchants and consumers. Western Union became
part of First Data as a result of the merger with FFMC.
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By 1998, First Data
was providing transaction processing services not only in
the U.S., but also in markets around the world, including
the United Kingdom, Australia, Mexico and Canada. The company
also began to see significant growth in its network of Western
Union agent locations. This set the stage for First Data
to become a leading global provider of electronic commerce
and payment solutions to businesses and consumers worldwide.
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From 2001 through 2005,
a period of expansion occurred as First Data acquired companies
around the globe and in the U.S., including the $6.6 billion
merger with Concord EFS in 2004, which added the STAR Network
and PIN-based debit acceptance at more than 1.9 million
ATM and retail locations. Additional acquisitions and strategic
relationships further expanded First Data’s ability
to better serve markets in Europe, Asia and Latin America.
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On January 26, 2006,
First Data announced its intention to spin off Western Union
into an independent publicly traded company through a tax-free
spin-off of 100% of Western Union to First Data shareholders.
The spin off occurred as planned on September 29, 2006.
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for a merchant account now!
Today, First Data
provides payment processing services to the world's largest
financial services providers, to the merchant around the
corner, and to businesses and governments of all sizes in
between. Our services ensure that money moves accurately
and securely anytime, anywhere.
 
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