Total System Services Inc., or TSYS, has signed a long-term agreement to provide point-of-sale services, authorization, settlement, reporting, managed services and risk mitigation for ISOs that work with Merrick Bank, a subsidiary of CardWorks Inc.
The companies announced the deal Dec. 18 but did not disclose the terms.
“TSYS supports a wide variety of Merrick partners, including traditional ISOs, technology companies and processors,” Mark Pyke, president of Columbus, Ga.-based TSYS Merchant Services, said in a press release.
The relationship with Merrick provides TSYS clients with sponsorship options with a respected financial institution, Pyke said.
“Merrick Bank has been a client of TSYS since 2005, and has enjoyed the TSYS commitment to service, reliability and investment in new technologies,” Rick Urrutia, Merrick Bank president, noted in the release.
TSYS’ single-authorization platform connects acquirers to virtually any market, Urrutia said.
TSYS supports financial institutions, businesses and governments in more than 80 countries and provides services to more than half of the Top 20 international banks, according to the release.
Merrick Bank, an industrial bank founded in 1997 and based in South Jordan, Utah, is a Top-25 issuer of VISA and MasterCard credit cards, and it lends nationally to consumers purchasing boats and recreational vehicles.
CardWorks provides services to financial institutions, retailers, non-traditional card issuers, ISOs and merchants in the United States and Canada.