Under terms of the agreement, the service will be extended to point-of-sale (POS) services, authorization, settlement, reporting, managed services and risk mitigation services.
Further terms and conditions of the deal have not been disclosed.
Commenting on the deal, TSYS merchant services segment president Mark Pyke said the company supports various kinds of Merrick partners, including traditional ISOs, technology companies and processors.
Merrick Bank president Rick Urrutia said, "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."
Headquartered at Columbus, TSYS provides merchant payment-acceptance technologies as well as services in credit, debit, prepaid, mobile and chip, among others to financial organizations in over 80 nations across the globe.
Established in 1997, Merrick Bank is a subsidiary of CardWorks and trades as an FDIC insured Industrial Bank and also acts as an acquirer of Visa and MasterCard transactions.
