TSYS Signs Agreement with Merrick Bank

TSYS (NYSE: TSS) announced the signing of a long-term agreement with Merrick Bank, a subsidiary of CardWorks, Inc., to provide flexible solutions for Merrick's independent sales organization (ISO) partners, including point-of-sale (POS) solutions, authorization, settlement, reporting, managed services and risk mitigation solutions.

“TSYS supports a wide variety of Merrick partners, including traditional ISOs, technology companies and processors,” said Mark Pyke, president of TSYS’ Merchant Services segment. “Our relationship with Merrick provides our clients sponsorship options with a respected financial institution. We are excited about the opportunity to provide solutions that will support Merrick’s clients.”

“Merrick Bank has been a client of TSYS since 2005, and has enjoyed the TSYS commitment to service, reliability and investment in new technologies,” said Rick Urrutia, president of Merrick Bank. “TSYS’ single authorization platform connects acquirers to solutions for virtually any market, and we look forward to our trusted partnership as they help us support our diverse client base.”

Terms of the agreement were not disclosed.