30 November 2015

Tsys and Central Payment Co form JV

09 August 2012  |  1893 views  |  0 Source: Tsys

Tsys (TSS) announced today the formation of a joint venture with Central Payment Co., LLC, which will continue to do business under its current name. Tsys owns 60-percent of the joint venture, and it will operate as a TSYS affiliate.

Central Payment is a privately held direct merchant acquirer — based in San Rafael, California — servicing small- to medium-sized merchants through an Independent Sales Agent (ISA) model. Founded in 2005, Central Payment focuses on merchants in the restaurant, personal services and retail sectors.

"This joint venture with Central Payment enhances our distribution model, with its strong sales agent channel made up of more than 700 active, independent agents," said Mark Pyke, president of TSYS' Merchant Services segment. "This move is another example of our focus on growing our merchant acquiring business, and expanding beyond processing."

"This is an exciting opportunity for us to leverage the expertise of a well-respected company within the payments industry like TSYS," said Matthew Hyman, co-managing director of Central Payment. "Our partnership expands TSYS' merchant perspective, and our company culture aligns with their focus on people-centered payments."

Central Payment is a long-time TSYS client, which currently uses TSYS technology for payment processing. The joint venture will be governed by a board of directors including both TSYS and Central Payment executives. Financial Technology Partners LP and FTP Securities LLC (together "FT Partners") acted as financial and strategic advisors to Central Payment in this transaction. 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news


Who is commenting?

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
8143 views comments | 34 tweets | 42 linkedin
Former Barclays chief forecasts massive jo...
7280 views comments | 30 tweets | 35 linkedin
EPC publishes proposals for pan-European i...
6769 views comments | 32 tweets | 30 linkedin
BNP Paribas to test contactless payment di...
6392 views comments | 18 tweets | 25 linkedin
WeChat launches mobile wallet in South Afr...
6358 views comments | 20 tweets | 16 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job