Card Briefs: First Bank Processing Minnesota State Cards

First Bank System Inc. has taken over credit card processing for the state of Minnesota.

The three-year contract took effect Jan. 1.

First Bank will provide merchant processing for about 75 locations, including state-run parks and shops.

First Bank will also manage Minnesota's revenue accounts that collect taxes, fees, and income from state agencies. The bank will also gain custodianship of part of the state's investment portfolio.

First Bank said it processes $15 billion annually through 60,000 merchant locations, making it the sixth-largest processor in the United States.

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