SCOTTSDALE, Ariz. – Funds processor eFunds Corp. filed suit against MasterCard Inc alleging the termination of their three-year-old joint processing pact violated provisions of the contract. Under the agreement eFunds to providing debit processing for financial institutions using MasterCards, but MasterCard exercised an escape clause and terminated the contract in December. eFunds has asked a federal court to enforce the agreement or order MasterCard to pay the company monetary damages.
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