TSYS Signs Long-Term Payments Agreement with Merrick Bank
TSYS (NYSE: TSS) today announced the signing of a long-term agreement with Merrick Bank, a subsidiary of CardWorks, Inc., to provide flexible solutions for Merrick's independent sales organization (ISO) partners, including point-of-sale (POS) solutions, authorization, settlement, reporting, managed services and risk mitigation solutions.
“TSYS supports a wide variety of Merrick partners, including traditional ISOs, technology companies and processors,” said Mark Pyke, president of TSYS' Merchant Services segment. “Our relationship with Merrick provides our clients sponsorship options with a respected financial institution. We are excited about the opportunity to provide solutions that will support Merrick's clients.”
“Merrick Bank has been a client of TSYS since 2005, and has enjoyed the TSYS commitment to service, reliability and investment in new technologies,” said Rick Urrutia, president of Merrick Bank. “TSYS' single authorization platform connects acquirers to solutions for virtually any market, and we look forward to our trusted partnership as they help us support our diverse client base.”
Terms of the agreement were not disclosed.
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments." By putting people at the center of every decision we make, with unmatched customer service and industry insight, TSYS is able to support financial institutions, businesses and governments in more than 80 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare and more, we make it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.
TSYS' headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, is a Fortune 1000 company and was named one of the 2012 World's Most Ethical Companies by Ethisphere magazine. For more information, please visit us at www.tsys.com.
About Merrick Bank
Merrick Bank, a subsidiary of CardWorks, Inc., is an FDIC insured Industrial Bank founded in 1997 and based in South Jordan, Utah. Merrick is a top-25 issuer of VISA and MasterCard credit cards, and lends nationally to consumers purchasing boats and recreational vehicles. Merrick is also a leading Acquirer of VISA and MasterCard transactions.
About CardWorks, Inc.
CardWorks, Inc. is the parent company of Merrick Bank. CardWorks provides financial institutions, retailers, non-traditional card issuers, ISOs and merchants in the U.S. and Canada with a full range of world-class servicing and support solutions. CardWorks provides services for banks, financial guarantors, credit card issuers, independent sales organizations and merchants that enable them to economically pursue their own goals and objectives while meeting all service requirements.