September 16, 2009
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News: Fifth Third Processing Signs Contracts
Retailers accept debit and credit card payment to boost sales and accommodate customers. Accepting these card payments require the assistance of a payment processing company that facilitates debit and credit card processing between the merchant and the bank. Choosing the right electronic payment processing company is a valuable process that most retailers do not take lightly. A newly formed debit and credit card payment processing company, Fifth Third Processing Solutions is a joint venture between Fifth Third Bank and Advent International, a prominent global private equity investor. Advent's global presence with cutting edge technology, products, and efficient teams bring Fifth Third the resources for growth.
Offering what they know best, Fifth Third Processing Solutions recently signed contracts with Uno Restaurant Holdings Corp. and Damon's International, Inc. as the their debit and credit card processor. Uno Restaurant Holdings Corp. is based out of Boston, MA and operates 200 worldwide company owned and franchised restaurants in 29 states. Damon's International, based out of Columbus, Ohio, operates over 80 casual dining restaurants worldwide. A Fifth Third Processing spokesperson stated that the company is very excited about providing debit and credit card payment processing to both restaurant chains.
Prior to the joint venture with Advent, Fifth Third Processing Solutions was solely owned by Fifth Third Bank a division of Fifth Third Bancorp. The company is a premier debit and credit card payment processor and a pioneer in providing secure electronic card processing. Fifth Third Processing offers financial institutions and retailers cutting edge products and services. Headquartered in Cincinnati, Ohio, the company is the nation's 4th largest electronic payment processors and supports over 173,000 merchant and financial institution locations plus 11,000 ATM's worldwide. Fifth Third Processing Solutions processes more than 28 billion payment transactions amounting to nearly $300 billion a year. Additional information on the company can be obtained by visiting www.ftpsllc.com.