Sage Payment Solutions renews Tsys merchant processing deal

Source: TSYS Acquiring Solutions

TSYS Acquiring Solutions, the pre-eminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry, announced today that it has renewed its merchant-processing service agreement with Sage Payment Solutions.

Sage Payment Solutions (formerly Verus Card Services) is one of the nation's fastest growing providers of payment-processing services to small- and mid-sized merchants. In 2006, services were provided to more than 100,000 businesses for a combined purchase volume of about $10 billion.

The agreement continues a long-standing relationship between the two companies. TSYS Acquiring Solutions will continue to provide transaction-processing and related support services for Sage Payment Solutions.

"With TSYS Acquiring Solutions, we are able to continue to offer a broad set of reliable products and services at attractive rates to our reseller channels," says Bill Wade, president of Sage Payment Solutions.

"We value our partnership with Sage Payment Solutions and are pleased to continue the relationship," says Robert J. Philbin, president of TSYS Acquiring Solutions. "Sage Payment Solutions has a strong reputation, and we look forward to supporting their success by providing secure and reliable processing services."

The multi-year agreement was effective Jan. 1. Other financial terms were not disclosed.

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