Expanding on an alliance established last summer, Society National Bank of Cleveland has agreed to provide credit card processing services for Checkfree Corp.
The Keycorp subsidiary said it expects the contract with Checkfree to generate about 18 million transactions and $300 million of bank card volume annually.
First Data Corp.'s card services group will work with Keycorp to supply additional card processing services, Society National said.
Last July, Society signed an exclusive agreement with Columbus, Ohio- based Checkfree to process electronic payments via the automated clearing house network.
Checkfree is the leading provider of bill payment services initiated via personal computer. Its consumer and business payment volume totaled $6 billion in 1994.
John Kutz, national sales manager in Keycorp's merchant services division, said Society is "delighted" with its second Checkfree partnership.
Checkfree said the alliance would help improve its interactive service offerings. Its commercial services division has clients such as CompuServe, Genie, Delphi, Reality Technologies, and Cellular One.
The company also has service alliances with bank-owned processing entities such as MasterCard International and Electronic Payment Services Inc., owner of the MAC electronic banking network.
A Society spokeswoman said the company "will continue to explore opportunities" for other alliances.
