New agreement between First Data and InComm instead of acquisition

[img_assist|nid=10991|title=|desc=|link=none|align=left|width=100|height=27]This week a new report was made on the acquisition of InComm, an industry leading marketer and distributor of stored value, gift and prepaid products. First Data, a global leader in electronic commerce and payment processing services, that was to purchase InComm decided to terminate the planned deal. The decision was mutually agreed by the two companies.

However, a new distribution agreement was concluded between First Data and InComm that includes continued relationship. Under the terms of the contract they will further support their joint customers with prepaid card processing, program management and a distribution network that allows First Data and its merchants to sell prepaid products in InComm prepaid card malls.

"As a strategic partner for many years, this decision lets both parties focus on the unique value we each bring to our mutual customers and the market," said Ed Labry, president of First Data's USA division. "We look forward to continuing our relationship with InComm and building on the successful relationships we have with our customers."