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COPYRIGHT 2005 Access Intelligence, LLC.
In what was either one of the most inflated, or perhaps misunderstood, announcements of the year, JP Morgan Chase & Co. and First Data Corp. said they were combining Chase Merchant Services Inc. and Paymentech into a new merchant acquiring entity, called Chase Paymentech Solutions, LLC, to be led by Michael P. Duffy, Paymentech's current president and chief executive officer.
The resulting operation will be the nation's largest merchant acquirer, processing an estimated 13.1 billion in annual payments, worth at least $500...
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