COLUMBUS, Ga. -- Total System Services Inc. said it has signed a seven-year agreement to process merchant credit card transactions for Bank of America.
Total System, a subsidiary of Synovus Financial Corp., said the BankAmerica Corp. unit is the fourth-largest acquirer of card transactions from merchants. The San Francisco-based bank's customers will increase Total System's merchant base of 285,000 by 30%.
The contract follows one signed in March for Total System to process the accounts on the issuing side of Bank of America's card business. The cardholder processing is scheduled to be fully phased in by the second quarter of 1995.
Total System provides services to 114 card issuers with 38 million cardholders, and is second among independent card processors to First Data Resources of Omaha.
