Vantiv and AmeriMerchant Offering Working Capital Referral Relationship Benefiting Merchants
CINCINNATI, Oct. 3, 2011 /PRNewswire/ -- Vantiv, LLC (formerly, Fifth Third Processing Solutions, LLC) one of the nation's largest premier full service payment solutions providers announced today that the company has entered into a merchant cash advance referral relationship with AmeriMerchant to offer working capital to Vantiv merchants including those affiliated through Vantiv's subsidiary, National Processing Company (NPC).
Vantiv supports nearly 400,000 merchant and financial institution locations, and many of those merchants are seeking alternatives to traditional lending resources for other cash advance options. AmeriMerchant, one of the oldest and largest providers of merchant cash advances across the country, has the resources and support to fulfill this crucial need. Through this arrangement, Vantiv, NPC, and their participating alliance of partners and independent sales organizations, can make AmeriMerchant's merchant cash advance program available across its sales verticals as a preferred merchant working capital solution.
"Today it has become very difficult for many small and medium-sized companies to obtain needed working capital to grow their businesses," says David Goldin, President and CEO of AmeriMerchant. "Companies are in desperate need of an alternative to fund expansion and growth. Together with Vantiv, we provide solutions. More than ever, AmeriMerchant's merchant cash advance program is filling an important void in the current marketplace."
"We selected AmeriMerchant for their outstanding reputation in the marketplace, their financial stability and their proven experience executing large scale partnerships," said Bill Weingart, Chief Product Officer, at Vantiv. "In today's fast-changing and competitive payments marketplace, Vantiv is a leader in developing fast, easy and reliable payment solutions for all sizes of businesses. Our relationship with AmeriMerchant is another excellent opportunity to support our valued merchant customers by offering them a convenient resource they may need - working capital."
The Vantiv and AmeriMerchant referral relationship allows a working capital product to be offered to an extensive merchant base through both a direct sales channel as well as partner channels/independent sales organizations (ISOs) to a mostly untapped population of merchants. This preferred partner status will also provide alliance partners and ISOs with a value-added service that can allow them to avoid selling on price and at the same time keep attrition under control.
About Vantiv, LLC
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 one of the largest providers 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.
About National Processing Company
Based in Louisville, Kentucky, with additional facilities in Houston, Texas and Chicago, Illinois, National Processing Company (NPC) is the largest provider of payment processing services exclusively focused on the small-to-medium merchant processing market. NPC provides a wide range of payment processing services, from point-of-sale credit card and debit card processing to integrated e-commerce solutions. NPC is a subsidiary of Vantiv, LLC. Learn more at www.npc.net.
Founded in 2002, AmeriMerchant is one of the nation's oldest and largest providers of working capital to merchants against their future credit/debit card sales, commonly known as a merchant cash advance. Through its sister company CanaFunding, the company also provides merchant cash advances to Canadian businesses. AmeriMerchant is committed to industry best practices and is a founding member of the North American Merchant Advance Association (NAMAA). For additional information about AmeriMerchant visit www.amerimerchant.com or call 800-267-3790.