Business

Credit-card processor TSYS signs long-term contract with Merrick Bank, a subsidiary of CardWorks

Credit-card processor TSYS said Tuesday it has signed a long-term contract with an existing customer, Merrick Bank, to handle a variety of services for it.

Terms of the deal were not disclosed.

South Jordan, Utah-based Merrick Bank is a subsidiary of CardWorks, which was founded in 1997 and serves a variety of clients, including financial institutions, retailers, merchants and non-traditional card issuers.

Merrick itself issues MasterCard- and Visa-branded credit cards, while also specializing in lending to people wanting to buy recreational vehicles and watercraft such as boats.

Columbus-based TSYS, a global payment processor, will perform card processing for Merrick, including point-of-sale services, card authorizations and settlements, and anti-fraud detection services.

— Tony Adams

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