First Data Merchant Services Corp. said Summit Bank, a subsidiary of Summit Bancorp of Princeton, N.J., has renewed its merchant processing agreement.

Summit, a top-40 merchant-acquirer, with 15,000 retailing customers, has been a client of the First Data Corp. division since 1988. Under the new agreement, First Data Merchant Services would supply core accounting, front-end capture, and back-office services.

Summit Bank processes $1.9 billion in sales and 14.3 million transactions annually.

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