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.

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.

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.

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 2.1 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.

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.

In April 2007, First Data announced that it had entered into an agreement to be acquired by an affiliate of Kohlberg Kravis Roberts & Co. (KKR) in a transaction with a total value of approximately $29 billion. The transaction was completed in September 2007.

Today, First Data is the global technology leader in information commerce. The company processes transaction data of all kinds, harnesses the power of that data, and delivers innovations in secure infrastructure, intelligence and insight for its customers. From large financial institutions to the merchant around the corner, First Data supports its customers by helping them process and understand the intelligence behind every transaction. Data is the new currency.