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North American Bancard Holdings to Acquire Credit Card Processor Total Merchant Services
Friday 19 May 2017

19 May 2017 - Michigan, US-based payment solutions provider North American Bancard Holdings, LLC (NAB) has agreed to acquire California, US-based credit card processing services Total Merchant Services, Inc. to accelerate growth in payment solutions and services, the company said.
Terms of the transaction were not disclosed. The transaction is subject to regulatory clearance of the acquisition and other customary closing conditions, and is anticipated to close in 2Q17.
The combined company expects to process nearly USB 50bn annually.
North American Bancard said the deal brings additional integrated software vendors and payment solutions, including TMS's annual USD 12bn in credit and debit card transactions.
On a combined basis, the transaction brings a suite of small business omni-channel solutions, including proprietary mobile and tablet point-of-sale solutions; mobile marketing applications; ecommerce options; traditional terminals; and small business financing.
Merchants and resellers can access a single payments experience.
North American Bancard Holdings executes solutions for payment processing including credit, debit, EBT, check conversion and guarantee, gift/loyalty cards and mobile purchasing.
The company processed more than USD 36bn in payments in 2016.
Total Merchant Services has helped more than 500,000 businesses with their payment processing needs and currently processes more than USD 12bn in credit and debit card transactions annually.
Skadden, Arps, Slate, Meagher and Flom LLP and Berkowitz, Trager and Trager, LLC served as legal advisors to TMS. Honigman Miller Schwartz and Cohn LLP was counsel to NAB.
Date Published: 19/05/2017
Target: Total Merchant Services
Country: USA
Sector: Banking/Financial Services
Type: Corporate acquisition
Status: Agreed
Buyer: North American Bancard Holdings
Buyer Advisor: Honigman,  Miller Schwartz and Cohn
Terms of the deal were not disclosed