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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 14, 1998
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PAYMENTECH, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-142244 75-2634185
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(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
1601 Elm Street, 9th Floor, Dallas, Texas 75201
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 214-849-2149
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ITEM 5. OTHER EVENTS.
On December 14, 1998, Paymentech, Inc., a Delaware corporation
("Paymentech"), issued a press release announcing that it has completed the
previously announced acquisition of the merchant processing business of Mellon
Bank Corporation. Paymentech hereby incorporates by reference the information
set forth in its press release dated December 14, 1998, a copy of which is
attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
Ex. 99 Press Release issued by Paymentech, Inc., dated December 14,
1998 filed herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PAYMENTECH, INC.
Date: December 28, 1998 By: /s/ PAMELA H. PATSLEY
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Pamela H. Patsley
President and Chief Executive Officer
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Exhibit 99
PAYMENTECH CONTACTS: MELLON CONTACTS:
Media: Investor: Ron Gruendl
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Rodney D. Bell JeanKrone bono (412) 234-7157
(214) 849-3776 (214) 849-3750 [email protected]
[email protected] [email protected]
FOR IMMEDIATE RELEASE
PAYMENTECH COMPLETES ACQUISITION OF MELLON BANK'S
MERCHANT PROCESSING BUSINESS
DALLAS - Dec. 14, 1998 - Paymentech, Inc. (NYSE:PTI) announced that it has
completed the previously announced acquisition of the merchant processing
business of Mellon Bank Corporation (NYSE: MEL). The transaction satisfied all
necessary regulatory approvals.
Mellon Bank and Paymentech also entered into an exclusive marketing and
referral agreement under which the parties will market Paymentech's processing
services to Mellon Bank's merchant customers. As previously announced, this
acquisition adds approximately 46,000 merchants with $5.3 billion in annual
bankcard sales volume to Paymentech. The portfolio consists of processing
business from retailers, cable television and cellular telephone providers,
government agencies, independent sales organizations, and agent banks.
Paymentech, Inc., founded in 1985, provides full-service electronic payment
solutions for direct merchant clients as well as third-party transaction
processing. Paymentech also offers complete commercial card payment and
information programs to businesses and other entities. Paymentech is the third
largest processor of bankcard transactions in the United States and a leading
issuer of commercial cards.
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PAYMENTECH COMPLETES ACQUISITION 2-2-2-2-2-2
broad-based financial services company with a bank at its core, Mellon Bank
Corporation ranks among the nation's largest bank holding companies in market
capitalization. With approximately $2 trillion in assets under management or
administration, including approximately $350 billion under management, Mellon
provides a full range of banking, investment and trust products and services to
individuals and small, midsize and large businesses and institutions. Its mutual
fund companies, The Dreyfus Corporation and Founders Asset Management, place
Mellon as the leading bank manager of mutual funds. Headquartered in Pittsburgh,
Mellon's principal subsidiary is Mellon Bank, N.A. Press releases and
information about Mellon Bank Corporation are available at www.mellon.com on the
Internet.
WWW.PAYMENTECH.COM
