Banc One Corp. will have a dilemma when it completes its planned merger with First USA Inc.: two competing merchant processing units.

The $7 billion deal, announced last month, would create the third- largest credit card issuing bank, with 32 million customers and $35 billion of receivables. The deal is expected to close by the end of May.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.