First Data, CoolSavings to Develop and Market Savings Programs

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First Data Corp., Atlanta, said yesterday it invested in and entered into a strategic marketing agreement with Chicago-based CoolSavings, a provider of e-marketing services used by online and offline retailers to build one-to-one customer relationships.

First Data will provide complete electronic processing and fulfillment for various savings incentives CoolSavings delivers to its registered members.

CoolSavings provides targeted online coupons, rebates and free samples to its members. The agreement with First Data will allow CoolSavings to redeem these offers online, automatically and paperless through credit card transactions.

The companies will also work together to develop and launch membership savings programs targeting specific vertical markets. First Data and its financial clients will secure merchant participation in these programs while CoolSavings will bring consumer exposure to these offers through its Web site. The companies will initially target this merchant program to restaurants, the companies said.

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