National Data Corp. has signed an agreement with Chemical Bank to provide merchant processing services for Chemical's New York branches and small business customers.
Atlanta-based National Data will handle merchant processing and support for customers referred by Chemical. The vendor and the bank will coordinate marketing of National Data's services through the bank's branches.
The agreement expands the two companies' relationship. Chemical's new account holders will be referred to National Data for processing and support services, including payment authorizations, customer support, and risk monitoring.
In 1988, National Data bought Chemical's merchant portfolio. The following year, it bought the merchant portfolio of Chemical's then-new acquisition, Texas Commerce Bank.