ST. PAUL - Deluxe Corp. said it has completed the acquisition of Financial Alliance Processing Services Inc., a provider of transaction processing services to retail merchants.
Terms of the purchase have not been disclosed.
Louisville, Ky.-based Financial Alliance is one of the fastest-growing processors of credit and debit card transactions, with net revenues of $21 million in 1994.
Financial Alliance, which enables merchants to accept any type of card, joins Deluxe Corp.'s Electronic Payment Systems Division, which includes Deluxe Data Inc., ChexSystems Inc., Electronic Transaction Corp., and National Revenue Corp.
Deluxe Corp., based in St. Paul, is best known for its check printing business, the nation's largest. Through Deluxe Data and the other companies it has diversified into faster-growing, technology-driven transaction markets.