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.

Financial terms of the deal were not disclosed.

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