Fidelity National Information Services, a merchant payment processing specialist, has announced that it has entered into a five-year agreement with US-based NewAlliance Bank to provide an array of merchant processing solutions.
NewAlliance holds assets worth up to $8 billion. It also has more than 3,000 merchant customers and processes over eight million transactions every year. As part of the agreement, Fidelity National Information Services (FIS) will provide transaction authorization capture, online debit, and associated services for new and existing merchants.
We are very pleased with our relationship with FIS, said John Hamby, senior vice president and manager of NewAlliance’s merchant services center. We anticipate accelerating our already strong growth and becoming an even more prominent participant in the expanding electronic payments business. FIS will assist us in reaching our strategic goals by providing us with further processing diversification, improved and faster application boarding, broadened authorization facilities and very competitive pricing for our customers.
FIS’ merchant solution enables institutions to compete for merchant deposits, maintain full control of commercial accounts and generate greater income. Its comprehensive merchant platform delivers additional revenue, cross-sell opportunities, improved customer retention tools and expert assistance, the company claims.