TSYS Inks Exclusive Long-Term Deal With Monetary

TSYS announced news on Tuesday (July 25) that it has signed an exclusive long-term agreement with Monetary, a connected commerce provider offering integrated payment services and marketing automation technologies for the point-of-sale industry.

In a press release, TSYS said under the terms of the agreement, TSYS will provide payment processing services to Monetary’s network of software developers and merchants.

Founded by industry veterans Jeff Katz and Shelley Plomske, Monetary offers a single, integrated commerce platform which includes their own payment gateway. TSYS said in the press release it will provide marketing automation processing services to help bring this new solution to market, including authorization and capture, clearing and settlement and chargeback functionalities. Monetary will also be integrating additional TSYS services and payment capabilities into the overall platform, including merchant onboarding tools.

“TSYS has a distinguished history in payment processing. Monetary is pleased to be working with this respected resource for payment processing services,” said Shelley Plomske, chief executive officer and president of Monetary, in the press release. “Together we offer best-in-class solutions for the dealers and developers we work with.”

Late last month, TSYS announced in another  press release that it has signed a long-term agreement with Valley National Bank to continue providing issuer processing services for the bank’s consumer credit and debit card portfolios.

“TSYS has been a trusted provider for Valley for two decades,” said Thomas Sparkes, first senior vice president of Valley National Bank. “They have provided a tremendous level of support and product expertise over the years, affording our customer base the best service we could ask for.”

With headquarters in Wayne, N.J., Valley National Bank operates more than 200 branch locations serving northern and central New Jersey, Manhattan, Brooklyn, Queens, Long Island and Florida. It has more than $22 billion in assets.