Payments specialist TSYS has signed a long-term agreement with CardWorks Inc. subsidiary Merrick Bank, to provide payment solutions for Merrick's independent sales organization partners. These include point-of-sale solutions, as well as authorization, settlement, reporting, managed services and risk mitigation solutions.

Merrick is a top-25 issuer of VISA and MasterCard credit cards, and lends nationally to consumers purchasing boats and recreational vehicles. The bank is also a leading acquirer of VISA and MasterCard transactions, said a news release announcing the deal.

"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."

"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," said Merrick Bank president Rick Urrutia.

For more on this topic, visit the transaction processing research center.

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