Direct Merchants Credit Card Bank, National Association, a subsidiary of Metris Companies Inc., has finalized its purchase of Banco Popular's U.S. Bankcard program.The acquisition gives the St. Louis Park, MN-based firm a portfolio containing approximately 283,000 accounts, 185,000 of which are active, with a total of around $180 million in receivables. The terms of the previously announced acquisition
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Direct Merchants Credit Card Bank, National Association, a subsidiary of Metris Companies Inc., has finalized its purchase of Banco Popular's U.S. Bankcard program.
The acquisition gives the St. Louis Park, MN-based firm a portfolio containing approximately 283,000 accounts, 185,000 of which are active, with a total of around $180 million in receivables. The terms of the previously announced acquisition were not disclosed.
