Fifth Third Processing Solutions Changes Name to Vantiv
CINCINNATI, June 15, 2011 /PRNewswire/ -- Fifth Third Processing Solutions, one of the nation's largest payment processors, today announced that it has adopted a new brand, name and logo. Now Vantiv, the 40-year-old company will leverage its experience, broad capability and reach with new levels of innovation and service to address the evolving payment needs of its merchant, bank and credit union customers.
"Vantiv embodies and advances our strategic direction as we help our customers better achieve their goals," said President and CEO, Charles Drucker. "In our industry, every transaction is the most important one. With so much at stake, our customers expect more. Vantiv is our commitment to deliver!"
As payment technology and consumer payment needs continue to change rapidly, Drucker emphasized Vantiv will continue to leverage its strong partner relationships and enhance investments in its best-in-class system platform, products and customer service. The new brand signals the company's long-term commitment to product development, innovation and growth. This includes added investment in areas such as eCommerce, mobile payment technology, pre-paid debit, fraud and security prevention and other emerging payment opportunities.
"Vantiv creates an opportunity for us to move beyond our already established foundation of success to bring our customers the innovation, guidance and leadership they should expect in this evolving payments environment," Drucker added. "As Vantiv, we will offer our customers even more collaboration, insight and performance."
The Vantiv brand will evolve over time across different parts of the company. Some distribution channels will change and carry the Vantiv name and logo while others will continue to be known either as "Fifth Third Processing Solutions, Powered by Vantiv," or "NPC, a Vantiv company."
"We are leaning forward, and as new technology and products become available, we will offer advancements to our customers to help them grow their business," Drucker added. "This is just one of many ways we can evolve and be more than just a payments company. Our people and their commitment to our customers bring the Vantiv brand to life."
Vantiv will continue to operate from the Greater Cincinnati, Ohio area, with a new, 205,000 square foot headquarter office at 8500 Governors Hill Drive in Symmes Township set for completion later this month.
Vantiv, LLC is one of the largest providers of payment strategies and technology solutions for financial institutions and businesses worldwide. Formed in 1971 and most recently known as Fifth Third Processing Solutions, LLC, the Company builds strategic partnerships with its customers, helping them become more efficient, more secure and more successful. Headquartered in Cincinnati, Ohio, Vantiv, LLC is a joint venture between Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
Vantiv, LLC supports more than 400,000 merchant and financial institution locations and 12,000 ATMs in 46 states and 8 countries. The company processes more than 11.4 billion ATM and POS transactions and nearly $400 billion in debit and credit sales volume annually. Its subsidiary, NPC, is the largest provider of payment processing services exclusively focused on the small-to-medium merchant processing market. According to the Nilson Report (March 2011), the Company is the largest PIN Debit U.S. acquirer and third largest U.S. merchant transaction acquirer ranked by general purpose transaction volume. For more information, visit www.vantiv.com.
Lynn M. Rhoads,
Senior Vice President
SOURCE Fifth Third Processing Solutions