Total Systems Services Inc., or TSYS, has purchased the Vanguard Payment Systems Inc. portfolio of 1,200 merchant accounts, which now will receive service through TSYS Merchant Solutions, the Columbus, Ga.-based payments processor announced Oct. 21.
The portfolio contains various businesses, ranging from fine-dining restaurants to high-end medical and dental offices, TSYS spokesperson Cyle Mims tells PaymentsSource.
The acquisition continues a TSYS initiative to deliver services directly to merchants through TSYS Merchant Solutions, while also providing services through various partnerships and independent sales organizations, Mims says.
TSYS Merchant Solutions customizes credit, debit and prepaid card payment services for merchants at the cash register or online, the company said in a press release.
“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,” Mark Pyke, president of TSYS Acquiring Solutions, said in the press release.
In January, TSYS acquired First National Bank of Omaha’s stake in First National Merchant Solutions LLC, completing a deal that formed TSYS Merchant Solutions and a portfolio of more than 300,000 merchant accounts (
Vanguard Payment Systems Inc., based in Clearwater, Fla., has provided payment-processing services to various businesses since it was formed in 2005, the press release stated.
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