UPCOMING EVENTS
Fifth Third Processing Solutions Earns Visa Global Service Quality Award
07/20/2010
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Recognized for Processing Performance for 15th Consecutive Year
Cincinnati, OH, July 20, 2010 – For the 15th consecutive year, Visa has awarded Fifth Third Processing Solutions one of its prestigious Visa Global Service Quality Performance Awards. Based on outstanding operating performances demonstrated in calendar year 2009, Fifth Third Processing Solutions has been distinguished as best-in-class for its Lowest Assured Transaction Rate in the Issuer Processor category.
The Lowest Assured Transaction Rate award recognizes the issuer best able to ensure system availability to respond to authorization requests in a timely manner without diverting transactions to the Visa Stand-In Process (STIP). It should be noted that transactions processed by issuers receive the highest degree of analysis for risk evaluation and transaction quality, ensuring a high degree of fraud protection.
“We congratulate Fifth Third Processing Solutions for qualifying 15 consecutive years to receive a Service Quality Award,” said William M. Sheedy, Group Executive, The Americas, Visa, Inc. “Visa has expanded this awards program to include all domestic and international transactions processed through VisaNet in calendar year 2009. This award acknowledges consistent, superior performance, and continued service quality improvements directly affecting Visa cardholders and merchants.”
“Our company is committed to making significant investments in systems to deliver the highest standard of technology in the industry,” said Charles Drucker, CEO, Fifth Third Processing Solutions. “This recognition from Visa is a tribute to the exceptional performance of our team who are committed to ensuring accurate and efficient processes for all of our valued processing partners. We are honored to receive this prestigious award for the Lowest Assured Transaction Rate.”
In 1992, Visa instituted this awards program to recognize clients demonstrating exceptional card operations processing within the U.S. region. In 2009, the program was expanded to include all domestic and international transactions processed through VisaNet. Visa has consistently recognized Fifth Third Processing Solutions for its excellent processing performance since 1995.
Fifth Third Processing Solutions, LLC delivers innovative payment transaction processing and acceptance solutions to create and support complex payment strategies for merchants, businesses, and financial institutions around the world. A pioneer in card payment acceptance in the early 1970s, Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio and is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
As a premier full service payment solutions provider, the Company provides servicing solutions and product engineering for financial institutions’ and retailers’ credit card, debit card, merchant and private label programs processing over 33.3 billion ATM and point of sale transactions and over $315.5 billion in debit and credit card sales volume annually. The Company supports over 180,000 merchant and financial institution locations and 11,000 ATMs in 44 states and 11 countries. According to the Nilson Report (March 2010), the Company is the third largest U.S. merchant purchase transaction acquirer. Learn more at www.FTPSLLC.com.
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