Troy-based North American Bancard Holdings (NAB), a multi-faceted payment solutions provider, today announced the acquisition of California-based Total Merchant Services (TMS). The agreement makes the combined entity the seventh largest processor in terms of merchant locations in North America, processing nearly $50 billion annually.
The acquisition brings NAB immediate growth and allows for future investment in emerging technologies to increase customer usability. It also provides additional integrated software vendors (ISV) and payment solutions, bringing TMS’ more than $12 billion in credit and debit card transactions annually to NAB.
The company is expected to expand their product and service offerings, including proprietary mobile and tablet point-of-sale terminals and small business financing. Additionally, the acquisition will enhance NAB’s go-to-market capabilities, allowing the company to expedite processes and streamline the payments experience for new and existing merchants and resellers.
“We are ecstatic about this acquisition,” says Marc Gardner, president and CEO of NAB. “TMS has been an industry staple for more than 20 years and has a history of providing its clients premier business solutions with a strong focus on ease, affordability, and customer service. It is these traits that made this acquisition a strategic fit for us.”
TMS is a payment solutions provider to small and medium businesses, offering a comprehensive suite of sales, payment processing, marketing, and business management products and services. The company’s network includes more than 3,000 sales partners, software developers, and strategic partners.
The acquisition is subject to regulatory clearance and other customary closing conditions, and is expected to close in the second quarter of 2017. Terms of the deal were not disclosed.