First National Bank of Omaha has partnered with payment technology solutions firm First Data to issue private label credit cards to the customers of QuikTrip, a US-based convenience store chain.
The private label card can be used only at QuikTrip, unlike a regular Visa cards.
As part of the collaboration, First Data will run the loyalty programme and maintain records of the loyalty points earned by clients purchasing gas and other goods at the QuikTrip outlets.
First National will serve as the lender and issue the credit to be used by the issued credit cards.
First National head of consumer banking Steve Eulie said: "We have a product in the market on our own platform now, but we wanted it to be best in class."
First Data head of global financial services division Andrew Gelb said that the collaboration means that the lender can commence doing business in lieu of forming their own team.
