As per the deal, TSYS will serve as the preferred provider of authorization, settlement and dispute resolution services for Pivotal Payments.

Pivotal Payments will use TSYS’ payment solutions to enable the capture of additional market share.

TSYS Merchant Services president Mark Pyke said that Pivotal Payments has created one of the fastest growing and most successful organizations in the payments industry, and TSYS is set to be a catalyst to aid in its continued growth.

Pivotal Payments president and CEO Philip Fayer said that after a very thorough selection process, TSYS clearly rose to the top. Its reputation for unparalleled service, commitment to the TSYS ‘Customer Covenant’, and ability to execute were all key factors in their selection.

Pivotal Payments serves more than 60,000 customers and processes over $10bn in annual debit and credit volume.