North American Bancard (NAB), a payment solutions provider, has acquired Total Merchant Services (TMS) as part of a strategy to accelerate growth and expand merchant portfolio.
Upon completion of the transaction, NAB will emerge as the seventh largest processor in terms of merchant locations in North America, with total annual processing near $50bn.
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NAB will get an immediate increase in its merchant base and revenue through the addition of TMS’ over $12bn in credit and debit card transactions processed per year.
TMS will be able to access NAB’s processing capabilities; its dynamic merchant and sales partner portals; extensive suite of on-boarding tools; and additional operational resources.
North American Bancard president and CEO Marc Gardner said: “Today’s milestone signifies an important step in driving strategic priorities forward for NAB, while providing merchants industry-leading payment solutions.
“During this transformational time in the payments industry, NAB is solidifying its commitment to helping businesses prosper by delivering innovative payment solutions and outstanding customer service.”
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By GlobalDataTotal Merchant Services chairman and founder Ed Freedman said: “This acquisition enables TMS to accelerate its development of fully integrated and secure payment solutions, continue its commitment to exemplary customer service for merchants and partners, and gain access to NAB’s broad platform of capabilities.”
