TSYS Purchases Vanguard's Merchant Portfolio

October 24, 2011, 8:28 a.m. EDT 1 Min Read

TSYS announced Monday that it has purchased the merchant portfolio of Vanguard Payment Systems Inc.

Columbus, Ga.-based TSYS offers merchant payment-acceptance services as well as services in credit, debit, prepaid, health care and more.

The purchase includes merchant accounts that will benefit from access to the products and services of TSYS Merchant Solutions, according to a TSYS news release.

TSYS Merchant Solutions offers customizable payment services that enable credit, debit and prepaid cards at the cash register or via the Internet.

Vanguard, based in Clearwater, Fla., offers payment acceptance solutions to a variety of businesses, including fine dining restaurants and high-end medical and dental vertical markets.

"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."

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