Tsys (NYSE:TSS) announced today that it has purchased the merchant portfolio of Vanguard Payment Systems, Inc. Based in Clearwater, Florida, Vanguard Payment Systems has provided payment acceptance solutions to a wide variety of businesses since 2005 including fine dining restaurants and high-end medical and dental vertical markets.
The portfolio purchase includes merchant accounts which will now benefit from access to the products and services of TSYS Merchant Solutions along with its proven sales distribution channel. TSYS Merchant Solutions offers customizable payment services that enable credit, debit and prepaid cards at the cash register or via the Internet.
"We will continue to invest in our merchant servicing business as demonstrated by this portfolio purchase, as well as our ownership of TSYS Merchant Solutions and recent acquisition of TermNet Merchant Services," said Mark Pyke, president of TSYS Acquiring Solutions. "Our goal is to become a top 10 global acquirer."