TSYS (TSS) announced today the signing of a contract extension with MainStream Merchant Services, Inc., of Alpharetta, Ga., to continue providing a full range of services to include authorization/capture and clearing/settlement, as well as bank identification number (BIN) sponsorship.
MainStream Merchant Services has become a leader in payment processing, with more than $1 billion annually in credit card transactions.
"We are pleased to be selected by MainStream Merchant Services as their full-service payment processor," said Tim Munto, group executive of Sales and Client Relations for TSYS Acquiring Solutions. "This expanded agreement confirms our common goal of providing our clients with advanced payment processing products and services, along with unsurpassed service and support."
"MainStream is excited to extend and build upon our strong partnership with TSYS," said J. Vignale, president of MainStream Merchant Services, Inc. "TSYS' state-of-the-art processing platform has provided a secure foundation for MainStream to seamlessly integrate our own proprietary systems directly to TSYS, which MainStream uses to control all aspects of merchant processing and portfolio management. This enables us to enhance our customers' and sales representatives' overall experience. The integration is further improved by MainStream's ability to now offer qualified merchants next-day funding and American Express® OnePoint®, while continuing to provide access to the industry's best merchant online reporting."
Terms of the agreement were not disclosed.