CARD BRIEFS: Comerica, National Data To Co-Own Processor

National Data Corp. and Comerica Inc. plan to share ownership of a new merchant processing venture called Comerica Merchant Alliance.

Terms of the multiyear agreement were not disclosed.

A spokeswoman for Detroit-based Comerica said the alliance would increase the bank holding company's competitiveness in the merchant processing business.

Previously, Comerica had a contract with First Data Resources to handle processing for its merchant relationships.

Now, NDC will provide processing, settlement, authorization, and marketing support. Comerica will bring its merchant contracts to the venture.

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