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Article: CARD ISSUING SERVICES WILL REMAIN IN THE FIRST DATA FAMILY.(First Data Corp. spin offs Western Union money transfer division)(Brief Article)
- Article from:
- Cardline
- Article date:
- January 27, 2006
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Henry C. "Ric" Duques, First Data Corp.'s chairman and CEO, today surprised some observers when he announced that the company is keeping its Card Issuing Services business and spinning off its Western Union money transfer division. First Data had focused a lot of attention on Card Issuing, a provider of the unglamorous but necessary services that include card issuing, activation, retention and authorization. Some had speculated that First Data would either sell or spin off the division after Duques in November endorsed an accelerated evaluation of the group (CardLine, 12/2/05). At the time, Duques said the unit had been a drag on revenue and profit growth and negatively ...
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