Comerica Announces Agreement with Vantiv to Deliver Payment Processing Solutions for Bank's Merchant Services Customers
DALLAS/Aug. 5, 2014 - Comerica today announced it has reached an agreement with Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology, to provide payment processing solutions for the bank's Merchant Services customers.
"Comerica made the decision to engage a new partner with the needs of our Merchant Services customers foremost in mind," said Albert P. Taylor, senior vice president, National Bank Card Services. "With this new agreement, our customers will benefit from a comprehensive suite of payment solutions. We are confident that our partnership with Vantiv will allow us to deliver the very best in Merchant Services."
Comerica's Merchant Services enable businesses to enjoy the convenience of accepting card payments from their customers, with a focus on providing those businesses with long-term value through increased revenue and reduced operating expenses. Vantiv's commitment to innovation and customer service will help Comerica's Merchant Services customers receive the right solution at the right time in their growth cycle.
"We are thrilled to be partnering with Comerica," said Stephanie Ferris, general manager and senior vice president of financial institution services at Vantiv. "Combining Comerica's strong brand with Vantiv's deep payments expertise, innovative products, security tools, and processing scale creates a strong value proposition for merchants. By working with Comerica, Vantiv will now be able to reach more merchants throughout the country."
Current and future Comerica customers will benefit from state-of-the-art products, value-added services, and exceptional 24/7 customer service. Additionally, advanced security products and reporting tools will provide merchants with new levels of security and information that can help them run their businesses more securely, efficiently and effectively.
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. To find us on Facebook, please visit www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares.
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high growth payment segments, such as integrated payments, payment facilitation (PayFacTM), mobile, prepaid and information solutions, and attractive industry verticals such as business-to-business, ecommerce, healthcare, gaming, government and education. For more information, visit www.vantiv.com.