Transaction Processing

BA Merchant Services, Inc.

The Company

BA Merchant Services <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BPI)") else Response.Write("(NYSE: BPI)") end if %> was organized in October 1996 from the domestic merchant card processing business of BankAmerica Corp. and went public a month later. The company is presently the fourth largest processor of credit and debit card transactions in the U.S. BA Merchant Services benefits handsomely from its continued affiliation with its parent company, which holds a 65% equity stake and 95% voting stake in BPI. The future seems bright considering BA Merchant's low penetration (10%-15%) of its parent company's 850,000 small and mid-size merchant base. In addition, the company's slated expansion into Asian markets in late 1997 will come as a result of acquiring BankAmerica's Philippine and Thailand operations.

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