TSYS wins Clearent merchant processing contract

Source: TSYS Acquiring Solutions

TSYS Acquiring Solutions, formerly Vital Processing Services, the pre-eminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry, today announced an agreement to provide merchant-processing services for Clearent.

Clearent provides debit- and credit-card payment processing to independent sales organizations (ISOs) and agent banks. Clearent, based in St. Louis, Mo., is focused on providing efficient and feature-rich offerings to the marketplace.

"TSYS Acquiring Solutions provides us with a broad set of solutions, systems reliability and service excellence that will help us expand our offerings and operate on a larger scale. This partnership will significantly enhance the growth of our business," says Dan Geraty, chief executive officer of Clearent.

"TSYS Acquiring Solutions is pleased to have a partnership with Clearent to deliver value-added service, speed and technology to their ISOs and agent banks," says Charles M. Hegarty, senior vice president of sales and client relations for TSYS Acquiring Solutions.

The multiyear agreement is effective Oct. 4, 2006. Other financial terms of the agreement were not disclosed.

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