COLUMBUS, Ga.--Total System Services (TSYS) will have a new "Square-like" look and feel to ramp up its merchant-acquiring business when it closes its deal for ProPay in the next month.
TSYS has made it known that it wanted its own mobile card reader to compete with Square. Though ProPay's ProPay Jak device fits the bill, TSYS did not seek to bring ProPay into its fold "just to have something Square-like," Mark Pyke, president of the merchant services segment for Columbus, Ga.-based TSYS, told American Banker, an affiliate of Credit Union Journal. A new "vertical market with direct selling" is likely to be the key addition to the TSYS menu after purchasing ProPay, Pyke said.
ProPay has established a solid business as an independent sales organization, offering merchants self-enrollment and instant activation for card acceptanc "This is a new selling method for TSYS, plus it gives us exposure to micro-merchants, which is a hot space," Pyke says.