Bank of America Merchant Services, the No. 1-rated electronic payments processor in the United States1, announced today the creation of the company’s new Canadian merchant services operation.
“We are excited to welcome Bank of America Merchant Services to Canada”
“Our U. S.-based clients continue to expand globally, and we believe this new organization will best serve their needs by providing best-in-class solutions,” said Tim Tynan, chief executive officer of Bank of America Merchant Services. “We are also honored and excited about servicing the needs of new, future clients in the Canadian market.”
Based in Toronto, the organization will provide a full suite of products and services – ranging from payments and commerce to security and advice — to both existing domestic U.S. customers currently doing business in Canada, and new Canadian market customers. The new Canadian subsidiary already has relationships with all major Canadian credit and debit card processing networks.
David Ades will lead the company’s new operations as General Manager for Bank of America Merchant Services in Canada. Ades has extensive experience in the payments, financial services and high-tech industries in both the United States and Canada. Most recently, Ades served as chief revenue officer at Plastiq Inc, a Boston-based online payments company.
This expansion adds merchant services to the comprehensive suite of transaction banking products and services Bank of America Merrill Lynch already offers to clients doing business in Canada.
“We are excited to welcome Bank of America Merchant Services to Canada,” said Maureen Jarvis, head of Global Transaction Services in Canada for BofA Merrill. “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.”