CINCINNATI, Aug. 4, 2011 /PRNewswire/ -- Vantiv, LLC ("Vantiv") and National Processing Company (NPC), a Vantiv company, are pleased to announce that their merchant processing and card servicing programs have recently received an exclusive endorsement by the Texas Bankers Association (TBA) and its subsidiary, TBA Services Company.
Deeply rooted throughout Texas and across the nation, NPC has delivered electronic transaction processing, unique technology solutions, and an unparalleled culture of service to businesses and financial institutions for over 40 years.
"The TBA Services Company Board of Directors unanimously voted to extend the endorsement to Vantiv and NPC after a due diligence process that included seven other interested merchant and services providers," said Wanda Stevens, Vice President of the Texas Bankers Association. "Endorsement by the TBA signals that we fully trust this partner. We are certain Vantiv and NPC will provide strong support and service to our banks and merchants while providing the best of class merchant program to our members."
Founded in 1885 and with 576 member banks today, the TBA represents approximately 85% of the FDIC-insured depository institutions operating in Texas; this comprises 95% of the assets in the state. It is the leadership organization and principal advocate for all Texas banks with a mission to meet the growing needs of their members through education, information and advocacy. The TBA represents both commercial bank charters and thrift charters, and the members have over 5,500 branch locations in Texas. The association is governed by a board of directors representing member banks of all asset sizes from across the state.
"We are proud to be the company chosen by TBA to earn this esteemed designation," said Adam Coyle, President, NPC. "Our status as an endorsed partner will allow us to work with strategic financial industry leaders throughout Texas and deliver solutions that drive greater efficiencies for TBA members and their customers. NPC is fully committed to this bold, new and exciting partnership."
Vantiv works with its clients to create processing solutions that help cultivate new revenue sources and build long-term client retention. Merchant Services such as credit and debit card processing, gift card programs, check services, secure processing technology, and online back-office management, and others are included in the Vantiv product suite. Additionally, Card Servicing Programs such as credit and debit card processing, advisory services, ATM driving, fraud mitigation and prepaid solutions enable financial institutions to market and grow their portfolios.
"Vantiv and TBA are both advocates for our clients," said Royal Cole, President, Financial Institution Services, at Vantiv. "We are excited to work together to deliver solutions that drive greater efficiencies for the TBA bank members and their customers."
About TBA Services Company
The TBA Services Company, Inc., known as TBASCO, is a wholly owned subsidiary of TBA. TBASCO's mission is to link Texas banks with providers of quality products and services. A TBASCO endorsement means completion of a lengthy investigative process by an eight-member board of directors, comprised of seven Texas bankers and the TBA president. TBASCO's reputation for integrity and thorough due diligence means bankers can trust and value the products and services awarded endorsement status. For more information about TBA please visit www.texasbankers.com
About National Processing Company
Based in Louisville, Kentucky, with additional facilities in Houston, Texas and Chicago, Illinois, National Processing Company (NPC) is one of the largest providers 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.
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