Bank of America Merchant Services, an electronics payments joint venture of First Data and Bank of America has opened a new merchant services operation in Canada.
The Canadian subsidiary is designed to complement Bank of America Merrill Lynch’s suite of transaction banking products and services in the country.
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The new company will offer a range of products and services including payments, commerce, security, and advice to both existing domestic US customers doing business in Canada and new Canadian market customers.
Bank of America Merchant Services CEO Tim Tynan said the company’s US-based clients continue to expand globally, and that the new organization would best serve their needs by providing best-in-class solutions.
The company has appointed David Ades as general manager of the new Canadian unit.
BofA Merrill Canada head of Global Transaction Services Maureen Jarvis said: "We look forward to helping our clients benefit from the expertise the Merchant Services team is bringing to Canada, in addition to the extensive line-up of transaction banking services we already offer, including our proprietary lockbox service and our award-winning online portal CashPro Online."
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