BA Merchant Services
Hoover's Company Profiles:
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Banc of America Merchant Services, LLC
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1231 Durrett Ln. Louisville, KY 40213-2008 KY Tel. 502-315-2000 Toll Free 800-255-1157 Fax 502-315-3535 |
Type: Joint Venture
On the web:
http://corp.bankofamerica.com/public/merchant/index.jsp
The next time you swipe your card and it clears, you might thank Banc of America Merchant Services. A 2009 joint venture between Bank of America and First Data, it is one of the largest processors of electronic payments in the US. The firm handles more than 7 billion check and credit, debit, stored value, payroll, and electronic benefits transfer card transactions (worth a total of some $250 billion) annually. Its clients are small businesses and large corporations including retailers, restaurants, hotels, supermarkets, utilities, gas stations, convenience stores, and government entities. First Data owns 51% of Banc of America Merchant Services, while Bank of America owns 49%.
Officers:
CEO: Financial Transaction Processing
Competitors:
Chase Paymentech Solutions
Elavon
Fiserv
Wikipedia on Answers.com:
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BA Merchant Services
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This article is an orphan, as few or no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (February 2009) |
| Type | Subsidiary of Bank of America |
|---|---|
| Industry | Credit Card Services |
| Founded | Purchase of National Processing Company by Bank of America from National City Corp. |
| Headquarters | Louisville, Kentucky, USA |
| Website | bankofamerica.com / npc.net |
BA Merchant Services, LLC is a wholly owned subsidiary of Bank of America specializing in handling credit, debit, stored value, and electronic benefits transfer (EBT) card transactions. It is the United States' second-largest bankcard merchant acquirer, processing nearly $350 billion in annual credit card volume. The company processes more than one out of every five Visa and MasterCard transactions in the country.
BA Merchant Services was formed in 2004, when Bank of America purchased National Processing Company from National City Corp. for $1.4 billion. Bank of America then consolidated its own Merchant Services division into the Louisville, Kentucky-based company. A call center for the company is located in El Paso, Texas.
On September 29, 2006, a significant portion of the original NPC, including over 170,000 merchant contracts, over 400 ISO relationships, over 600 community bank relationships, and the NPC brand and logo, was purchased from Bank of America by ITPS. Concurrent with the closing of the acquisition, ITPS and each of its operating subsidiaries were renamed to incorporate the National Processing Company, or NPC, name.
See also
External links
- http://www.paymentsnews.com/2006/01/usps_selects_ba.html
- http://www.bankofamerica.com/small_business/merchant_card_processing
- npc.net
- http://npc.net/?section=Company&content=overview
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