FYISOs

• Deluxe Corporation's shareholders elected Ronald E. Eilers to the board of directors. Eilers joined Deluxe in 1988, became a senior vice president in August of 1997, and now manages its Paper Payment Systems business. Additionally, Dr. James J. Renier retired as a director from the Deluxe board and Jack Robinson and Hatim A.Tyabji joined the board of eFunds Corporation. 
  

• First American Payment Systems (FAPS) has signed a long-term contract with First Data Merchant Services  (FDMS) for merchant processing services. Under the agreement, First Data will provide FAPS with both core accounting and front-end authorizations and capture services.  This agreement is expected to bring in over 75,000 new accounts. For more information on First American Payment Systems, visit www.first-american.net. For more about FDMS visit www.firstdata.com.
  

• American Express' second-quarter profits rose 15 percent to a record $740 million. Profits in the year-earlier quarter were $646 million. AMEX customers each charged $2,085 in the quarter, up from $1,933 last year. The number of cards in circulation increased from 43.9 million to 49.4 million. Analysts report that the credit card arena has become less competitive as regional banks sell their portfolios. 
  

• Retail Store System (RSS) of Fountain Valley, CA will resell IVI Checkmate's consumer payment terminals, check readers, and transaction management software to general merchandise retailers. The agreement positions IVI Checkmate to partner with RSS' direct sales force to sell IVI Checkmate's eN-Touch 1000 touch screen and signature capture terminal, eN-Crypt 2100 payment terminal, eN-Check 2500 check reader, and the eN-Concert Solution to mid-sized retailers. For more information visit www.rss.com or www.ivicheckmate.com. 
  

• Michigan National Bank recently chose NXT Corporation for their transaction processing solutions. Michigan National is a leading processor and acquirer of credit card transactions. Connections are currently being installed in 11 large resorts around the country. For more visit www.nxt.com or www.MichiganNational.com. 
  

• Vital Merchant Services has announced the appointment of two senior executives. Ric Coulombe has been named Chief Operating Officer and Greg Cohen has been named Vice President of Sales and Marketing. For more information on Vital Merchant Services or Vital Processing, call (800) 686-1999 or visit www.vitalps.com. 
  

• DPI Merchant Services, a merchant service processor in the direct marketing industry, has reached a multi-year agreement with the Electronic Retailing Association. Under the agreement, DPI will be the exclusive preferred provider of merchant services for ERA members. All ERA members who establish a merchant account with DPI will be able to take advantage of discount rates based on a reduced and tiered association rate scale. For additional information visit www.dpicorp.com or www.retailing.org or call DPI at (888) 541-9800.

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