First Data Corporation began as First Data Resources (FDR), a company that provided credit card data processing for member banks in 1971.
In 1980 American Express Information Services Corporation (ISC) bought 80% of FDR. American Express spun off FDR in 1992. The same year the new company went public.
By 1988 First Data was providing transaction processing services in the United States, U.K., Australia, Mexico, and Canada.
In 2007 First Data was bought by Kohlberg Kravis Roberts. First Data subsequently became a private company and its shares were pulled from the New York Stock Exchange. Within two months of the KKR acquisition, First Data laid off 1,700 employees.
Today First Data Corporation is a global payment processing company. Its portfolio includes merchant transaction processing services, credit, debit, payroll and other cash offerings, credit reporting, internet commerce, and mobile payment solutions.
In January 2019, Fiserv acquired First Data and will rebrand all parts of First Data to the Fiserv name.
The Better Business Bureau notes that the US federal government was taking legal action against the company in May 2020 for possible money laundering charges.
First Data has 22,000 employees and had $12.05 billion in revenue in 2017. First Data/Fiserv have consolidated its headquarters operations and moved to New York, New York.
Haven’t received my funds since January 27th 2021 They can deduct my money but they can’t deposit my money had issues with my clover batching out and has not been successful over $2000 owed to me no one can help me. I will be contacting corporate via email certified letter. Anyway, they’re saying my account needs to remain open. therefore as long as it’s open I’m currently being charged monthly, it’s not fair!
Larry herrington says
to whom this may concern I have made numerous attempts to contact somebody in first data in reference to my problems I have seven locations that I am going to be using your equipment only to find that I have been lied to numerous times I’ve tried to get in touch with your CEO Frank bisignano with no luck could somebody please give me a call back at 904-477-XXXX before I switch all together if anybody is concerned please call thank you Larry
Larry, I’m sure your issue is resolved by now, and I understand your frustration. I am not the one to answer your equipment questions. But, there are millions of terminals (I dont know the exact number), at business locations WORLDWIDE (to give you an idea of scale). Every small business has one. Frank Bisignano, is basically reporting to the shareholders, he does not install your terminal (lol), and likely would not know one if he saw one. So, you shot too high. Aim lower. Call customer service. The terminal complexity is unreal, and basically, the terminal is your business partner, that shares in liability, so, it must be set up properly. And there is antitheft built in, thus, you terminal likely has a fixed location. This is all part of setup. There are lots of details. After the setup is complete, the equipment should work, reliabialy, until it’s obsolete. The terminal is setup for a location, for card types, and even country rules, if it’s auto-rental, there are rules, if it transportation, there are rules, etc.