Chase Merchant Services said it has added 17 currencies to its merchant processing capabilities, bringing the total to 40.

Chase Merchant Services, a joint merchant-acquiring venture of Chase Manhattan Corp. and First Data Corp., developed an international currency conversion product in 1994. It enables customers to conduct business worldwide and bill cardholders in their local currency.

Chase lets merchants do business with cardholders in any of the currencies, while having their funds directly deposited into a U.S. bank account in U.S. dollars. The company expects to process seven million international transactions in 1999.

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