Diversified Investors EFT subsidiary in processing pact with First Bank unit.

NEW YORK--(BUSINESS WIRE)--Nov. 22, 1994--Diversified Investors Corp. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Bulletin Board:DVIN) said today that its wholly owned electronic funds transfer See EFT.

(application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. (EFT) subsidiary Transaction Network Plus Inc. (TNPI) has signed a two-year service agreement with First Bank National Association, a unit of First Bank System Inc. (NYSE NYSE

See: New York Stock Exchange :FBS FBS
abbr.
fasting blood sugar

FBS Fasting blood sugar. See Fasting glucose. ) of Minneapolis, pursuant to which TNPI has agreed to provide credit card authorization services to First Bank in accordance with the terms and conditions of the agreement.

Any services provided by TNPI under the First Bank agreement will be performed initially in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . The company expects to begin authorizing these transactions for First Bank this week.

Charles B. Keil, president and CEO of TNPI, said he believed that establishing this relationship with First Bank, an EFT industry leader with more than 90,000 merchant accounts nationwide, is a milestone for the Diversified subsidiary.

Diversified Investors Corp., through TNPI, has been processing debit and credit card transactions since 1990.

CONTACT: Transaction Network Plus Inc.

             Charles B. Keil, Jr., 609/273-1177
                        or
             The Cavior Organization Inc., New York
             Warren J. Cavior, 212/687-6070

COPYRIGHT 1994 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.

Reader Opinion

Article Details
Printer friendly Cite/link Email Feedback
Publication:	Business Wire
Date:	Nov 22, 1994
Words:	184
Previous Article:	Chrysler Financial Corporation issues $500 million of asset-backed certificates through J.P. Morgan Securities Inc.
Next Article:	Bio-Reference Laboratories to acquire Clinical Laboratory from Sclavo Inc.
Topics:	Bank clearinghouses Electronic funds transfer systems Contracts

Related Articles
"Send check." (CheckFree electronic funds transfer service)
Testimony on development of electronic funds transfer programs for the payment of state taxes before the Federation of Tax Administrators.
Diversified Investors to Develop Smart Cards and EFT Technology in Malaysia and Singapore.
California electronic funds transfer requirements.
Electronic funds transfer now required for many taxpayers.
Order Approving Notices to Conduct Certain Data Processing Activities and Other Nonbanking Activities.
ORDERS ISSUED UNDER BANK HOLDING COMPANY ACT.
Fiserv EFT Announces Record Transaction Volume for 2005; Business Unit Total Grows to 4.75 Billion Transactions.
Coastal Federal Bank Signs with Fiserv EFT; Five-Year Agreement for ATM Device Driving and Debit Processing Services.
Fiserv EFT and AFFN Extend Network Switching Contract; New Agreement with Armed Forces Financial Network Continues to 2009.