Card Briefs: Paymentech Takes Over Mellon Processing Unit

merchant processing business of Mellon Bank Corp. As part of the deal, Mellon and Paymentech entered into a marketing and referral agreement to market Paymentech's processing services to Mellon's merchant customers. The acquisition brought Paymentech, the Bank One Corp. affiliate that is third in the merchant processing business, 46,000 new merchants with $5.3 billion in annual bank card sales volume.

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