Wednesday, May 17, 2017
Marc Gardner, founder, President and Chief Executive Officer at North American Bancard, noted TMS has been an industry staple for more than 20 years, with a history of providing premier business solutions and consistent focus on ease, affordability and excellent service. "These traits made this acquisition a strategic fit for us," he stated.
"NAB is an ideal fit for TMS," added Joe Kaplan, CEO of Total Merchant Services Inc. "This combination unites two companies that share a common vision for sustained growth, industry-forward leadership and strong commitment to customer service. I am confident that the broader platform and combined management team will pave the road for growth."
Analysts additionally noted the companies' complementary service offerings and technologies, which include proprietary mobile and tablet point-of-sale (POS) solutions. Consolidating these offerings will create a comprehensive suite of omnichannel solutions for small and midsize business owners.
"It's typical in present market conditions for ISOs to continue to consolidate to capture market share," said Andrey Tikhonov, Senior Director of Payment Technology at Infinite Peripherals Inc. "TMS and NAB are both highly skilled in merchant acquisition and payment technology. This merger of these two iconic brands will produce a stronger portfolio, robust technology framework, expanded suite of solutions and increased competition in the ISO space."
Merchants will have access to mobile marketing apps, ecommerce options, traditional countertop devices and small business financing, company representatives stated. Examples include the following product offerings:
In addition to immediate merchant portfolio growth and $12 billion in credit and debit card revenue, the TMS acquisition is expected to add thousands of channel partners and integrated software vendors (ISVs) to NAB's distribution network.
New and existing partners will have the added benefit of expanded resources, technologies and services under a unified leadership and brand, representatives stated. Legal representatives for both companies expect the deal to close during the second quarter of 2017, following regulatory clearance and review.
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.