TSYS Acquiring Solutions, formerly Vital Processing Services, the pre-eminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry, has reached an agreement to provide transaction processing services for National Processing Company (NPC), formerly Iron Triangle Payment Systems.
The multi-year agreement was effective in the third quarter of 2006. Financial terms of the agreement were not disclosed.
NPC, with its affiliate companies, is now the sixth-largest merchant acquirer in the United States, providing processing services for more than 275,000 merchant locations and hundreds of independent sales organizations (ISOs). NPC provides a wide range of business transaction processing, from point-of-sale credit-card processing to e-commerce solutions. Annually, NPC processes more than $25 billion in purchase volume.
"NPC has experienced tremendous growth over the past several years with many high-profile acquisitions. In September 2006, they completed the acquisition of a merchant portfolio from BA Merchant Services, the merchant-processing business of Bank of America N.A., which brought a significant number of new merchants and volume to their portfolio," said Charles M. Hegarty, senior vice president of sales and client relations for TSYS Acquiring Solutions. "We are delighted to serve as one of NPC's premier partners in delivering secure and reliable solutions to their merchant and ISO clients."
"We are excited to be working more broadly with TSYS Acquiring Solutions because, like NPC, they are dedicated and focused on customer service and systems reliability and can support our rapid growth," says Mark D. Schatz, executive vice president of National Processing Company.