Vital Processing Services Helps Bank of America Make Payment Processing Easier and More Efficient for Customers
Tempe, AZ, July 9, 2003 - Vital Processing Services® (Vital®), a recognized leader in technology-based commerce enabling services, announced today that it recently renewed and expanded its service agreement with Bank of America. The agreement, which entails payment processing and related services, will help Bank of America better serve and support its national merchant acquiring customer base.
"This agreement allows Bank of America to continue to benefit from its longstanding partnership with Vital as we work on growing our business together," said Cliff Skelton, ATM Channel, Card Operations and Merchant Services executive for Bank of America. "The implementation of Vital's software will enable us to meet the higher standards we have set to continuously delight our customers."
Under the agreement, Vital remains the provider of point-of-sale (POS) authorization and capture services for Bank of America as well as the provider of clearing and settlement services.
"We are excited that Bank of America has decided to extend and deepen its relationship with us. We've had many years of success together as business partners, and the whole Vital team is enthusiastic about helping Bank of America meet and exceed the needs of their customers," said Jonathan Palmer, president and CEO of Vital Processing Services.
About Bank of America
One of the world's leading financial services companies, Bank of America is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation's largest financial services network, including approximately 4,400 domestic offices and 13,000 ATMs, as well as 30 international offices serving clients in more than 150 countries, and an Internet Web site that provides online banking access to 4 million active users, more than any other bank. Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges. The company's Web site is www.bankofamerica.com. News, speeches and other corporate information may be found at www.bankofamerica.com/newsroom.
About Vital Processing Services
The world's recognized leader in technology-based commerce enabling services, Vital Processing Services® (Vital®) brings the power of pure commerce to more than 300 Acquirers and one million Merchants. Vital delivers highly reliable, integrated end-to-end payment-related solutions to Acquirers and their Merchants, and provides them with the information and tools to efficiently manage their payment processing businesses. From authorizing and capturing electronic payments at the Merchant point of sale, to clearing and settling transactions, Vital is the only pure Acquirer processor in the industry. Vital is a joint venture of Visa U.S.A. and TSYS® ("NYSE: TSS"). Additional information regarding Vital can be found at www.vitalps.com.
Media Contacts:
Virginia Shaffer
Vice President, Corporate Communications
Vital Processing Services
480 333 7671
Virginia.Shaffer@vitalps.com
Ryan Boekelheide
Public Relations
Weber Shandwick
952 346 6234
rboekelh@webershandwick.com