Equifax Payment Services has completed the previously reported deal to acquire the Credit Union National Association's card services division, a unit of CUNA Services Group Inc.

Equifax Inc. and CSG had signed a letter of intent in September which was subsequently approved by Equifax's board of directors and CSG's shareholders.

As part of the deal Equifax will process MasterCard and Visa transactions for 17 million cardholders and 5,000 financial institutions. CSG said that nearly all of its customers whose contracts were up for renewal agreed to extend those contracts, based upon CSG's affiliation with Equifax.

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