ATLANTA -- First Financial Management Corp. said its subsidiary, Nabanco, has purchased merchant credit card contracts from Chase Manhattan Bank.
The portfolio has annualized MasterCard and Visa sales volume of over $700 million. The portfolio is composed of over 5,000 mostly small to medium-size merchants in New York, Connecticut, and Maryland. Nabanco handled over $54 billion in credit card sales in 1993.
Nabanco said it will assimilate the Chase sales representatives into its own organization.