SOURCE: Merchant e-Solutions

Merchant e-Solutions

April 12, 2010 14:00 ET

Merchant e-Solutions Completes Acquisition and Strategic Partnership With Synovus

REDWOOD SHORES, CA--(Marketwire - April 12, 2010) - Merchant e-Solutions, Inc. (MeS), a Redwood Shores, California eCommerce payments company, today announced it has successfully completed the acquisition of the Columbus Bank and Trust (CB&T) merchant business from Synovus, the Columbus, Georgia-based financial services holding company. As part of this acquisition, MeS and Synovus have agreed to a 10-year joint marketing agreement to provide payment processing services for new Synovus bank merchant customers.

"This transaction continues and expands our 10-year-old partnership with Synovus for many years to come and provides MeS and Synovus with significant growth opportunities," said MeS Chairman and CEO Sharif Bayyari. "Synovus and its affiliate bank merchant customers will continue to get the superior service and support they deserve and have come to expect from their merchant service provider."

"This is a positive, strategic transaction and will also provide us with significant capital to further strengthen our reserves and fund future growth opportunities," said Synovus Chairman and CEO Richard Anthony. "Merchant e-Solutions will continue to provide the high levels of service and product solutions our customers expect."

About Merchant e-Solutions

Merchant e-Solutions, founded in 1999, provides eCommerce payment processing solutions for merchants and banks. Merchant e-Solutions currently processes more than $14 billion in payments for more than 65,000 merchants, supporting 150 global currencies and all major credit, debit and alternative payment solutions. The company specializes in services for e-commerce and card-not-present merchants and provides a comprehensive suite of payment solutions that are PCI compliant and designed to reduce merchant risk exposure. Merchant e-Solutions is headquartered in Redwood City, CA, with operations in Spokane, WA, and satellite offices in Minneapolis, MN, and Columbus, GA. For more information, go to http://www.merchante-solutions.com.

About Synovus

Synovus (NYSE: SNV) is a financial services holding company with approximately $33 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, as well as investment services, to customers through 30 banks, 327 offices, and 461 ATMs in Georgia, Alabama, South Carolina, Florida and Tennessee. The company focuses on its unique customer service delivery model, position in attractive Southeast markets and commitment to being a great place to work to ensure unparalleled customer experiences. See Synovus on the Web at www.synovus.com.

Contact Information

  • Contact:
    Jim Aviles
    Chief Operating Officer
    Merchant e-Solutions
    Phone: 1.650.628.6830
    E-Mail: Email Contact