First Data and Kohlâ€™s Ink Credit Card Services Deal
The multi-year agreement calls for First Data to provide Kohlâ€™s with credit card processing, customer analytics, risk management services and automated customer service workflow tools. Financial terms of the agreement were not disclosed.
Kohlâ€™s partnership with First Data will not affect Kohlâ€™s current credit card arrangement with Chase or the companyâ€™s previously announced agreement with Capital One.
Kohlâ€™s Corporation operates family-oriented department stores that sell apparel, footwear and accessories for women, men and children, soft home products, such as sheets and pillows, and housewares.
The companyâ€™s stores feature private and exclusive brands, which are found only at Kohlâ€™s, as well as national brands.
Wes McDonald, senior executive vice president and CFO of Kohlâ€™s, said: â€œWeâ€™re pleased to partner with First Data and value their technological capabilities, system flexibility and broad portfolio of innovative services.
â€œChoosing a world-class partner for payment processing with an ability to respond to the changing payments landscape was important given the success and ongoing growth of Kohlâ€™s credit card program.â€
Ed Labry, president for North America at First Data, said: â€œHelping drive our customersâ€™ success is the ultimate goal of First Data. Our strategic view of the payments industry, our ability to offer the full spectrum of industry-leading services and the expertise of our dedicated employees all play a role in achieving that success.â€
How far the deal benefit Kohlâ€™s?
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