Rabobank has selected Vantiv, a provider of payment processing services, to expand its merchant services division.
Vantiv’s Merchant Services for Financial Institutions senior vice president and general manager Stephanie Ferris said: "We’re excited to support Rabobank’s growing business banking program. Vantiv has a strong track record of using analytical tools and innovative technology to help small- to medium-sized businesses work smarter and grow their bottom line."
Merchant services programs allow businesses to accept multiple forms of payment such as debit cards, credit cards and gift cards across various channels, including local retail locations, online and through mobile devices.
The partnership will allow the bank’s business customers to use Vantiv’s analytic-driven solution Vantiv iQ to access a web-based reporting tool that offers business owners insights to run their companies more efficiently and effectively.
Rabobank, a $15bn unit of Rabobank Group, provides a range of financial products and services for individuals, businesses, and agricultural clients in California, where it has over 100 branches and financial service centers.