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Article: Chemical Bank and NDC announce agreement regarding Chemical's merchant processing business. (National Data Corp.)
- Article from:
- PR Newswire
- Article date:
- July 6, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHEMICAL BANK AND NDC ANNOUNCE AGREEMENT
REGARDING CHEMICAL'S MERCHANT PROCESSING BUSINESS
NEW YORK, July 6 /PRNewswire/ -- Chemical Bank and National Data Corp. (NASDAQ: NDTA) (NDC) announced they have entered into an agreement whereby NDC will acquire Chemical's merchant processing business.
NDC will have full responsibility for the business and will perform all merchant accounting, authorization, data capture, customer service, credit and support functions, while Chemical will continue to accept merchant deposits at its branches. The financial terms of the agreement were not disclosed.
The move by Chemical is part of a ...