When First Data Corp. owns 47.5% of your company, it might not be politic to refer to that superpower of the card processing business as "the factory."

But Michael P. Duffy, who on April 1 became president and chief executive officer of Paymentech, does not seem worried about corporate niceties. He says he is more concerned about distinguishing the strengths of his own company, a Dallas merchant acquirer and card processor that is majority-owned by Bank One Corp.

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