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July 9, 2019

SpotOn and TSYS extend payments partnership

American payments firm SpotOn Transact has extended its partnership with credit card service company Total System Services (TSYS) to expand payments capabilities to merchants.

SpotOn said that the multi-year agreement will enable the company to forge direct relationships with clients, which will improve onboarding and support for merchants.

SpotOn offers a range of tools for small- and medium-sized businesses, covering payments, point-of-sale, marketing, custom websites, reviews, analytics and loyalty.

The firm was established in 2017 by Matt Hyman, Zach Hyman and Doron Friedman.

Matt and Zach Hyman founded San Rafael-based Central Payment before establishing SpotOn. They formed a joint venture with TSYS in 2012 and sold the company to TSYS last year.

Zach Hyman said: “Having each spent 20 years in the space, Matt and I firmly believe that TSYS is the perfect partner to help scale our business.

“We’ve done business with TSYS for more than 10 years and are thrilled to continue and strengthen that relationship.”

SpotOn was recently in the limelight for various reasons.

Last month, SpotOn raised $40m in a funding round led by Franklin Templeton and Dragoneer Investment Group.

Over the last 12 months, the company is said to have increased its sales and support staff twofold.

The San Francisco-based company also launched a restaurant POS offering through the acquisition of EmaginePOS.

Besides, SpotOn snapped up Lifeyo to offer customised websites and launched a number of new products.

TSYS Merchant Solutions president and executive vice-president Mike Peters said: “TSYS shares in the vision that Merchant Services has to continue to expand beyond just payment processing.

“Matt and Zach have a proven track-record of being able to successfully scale businesses, and we are extremely excited to continue our partnership with SpotOn and support their continued growth.”

Based in Georgia, TSYS has operations in 13 countries. In 2018, the firm reported revenue of $4bn.

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