Clearent extends Tsys processing term
TSYS (NYSE:TSS) announced today that it has signed a long-term agreement with Clearent, LLC, to continue their current and well established merchant services processing relationship.
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Under the agreement, TSYS will provide authorizations and other payment services for Clearent's merchants using TSYS' proven and reliable platforms. This enables Clearent to leverage the flexible and efficient technology offered by TSYS and benefit from a wide array of cost-saving and revenue-generating products and services. Clearent is on pace for another record-setting year for its credit card processing services and attributes their triple digit growth rates to advantages such as those afforded by the relationship with TSYS.
"This new agreement reaffirms our commitment to Clearent's success and our pledge to be a trusted provider of product and technology solutions for merchant acquirers," said Mark Pyke, president of TSYS Acquiring Solutions. "We are thrilled to continue our partnership with Clearent."
"Our ongoing relationship with TSYS is based upon the partnership we have developed since the initial agreement," said Dan Geraty, chief executive officer of Clearent. "TSYS supports the widest range of point-of-sale solutions coupled with world class customer service for Clearent and our merchants."