Tsys (NYSE: TSS) announced today that both its front-end authorization and capture as well as back-end clearing and settlement platforms are now enabled to process American Express OnePoint transactions.
American Express OnePoint is a cost-effective and all-in-one solution that enables small to mid-size merchants the convenience of a single source for statements, settlement and customer service for all major card brands. TSYS started processing OnePoint transactions in late 2011.
Under this arrangement, American Express will retain the acceptance contract with participating merchants, establish merchant pricing, and receive the same transactional information it does today. TSYS will provide payment processing services to merchants on behalf of American Express for American Express card transactions under the new agreement
"This is a mutually beneficial agreement for both TSYS and our clients to expand our processing and merchant portfolios respectively," said Eric Barth, senior director, product management, TSYS. "For the first time, TSYS will be able to offer our clients complete processing services for all card brands with the convenience of a single deposit and one billing statement to merchants."
"We are happy to have TSYS on board with the ability to process American Express transactions on our behalf," said William DeSimone, vice president, Merchant Acquisition, American Express. "While enabling merchants to streamline acceptance, the OnePoint Program also enables American Express Cardmembers the ability to use their card at even more locations."