Boatmen's Bancshares is the ninth bank to join First Data Corp.'s Merchant Bank Alliance program, creating a joint venture company for merchant processing.

Boatmen's, with $41 billion in assets, will benefit from First Data's technological abilities, as well as some of its Card Establishment Services merchant contracts, while First Data will receive a portion of the profits from Boatmen's 21,000 merchant customers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.