Visa Inc. has recognized Fifth Third Processing Solutions for its efficiency in card transaction processing.
Fifth Third is the company which purchased TNB Card Services, the card processing arm of credit union owned Town North Bank, on July 6.
Visa recognized Fifth Third with its Visa Global Service Quality Performance Award for the processor's "lowest assured transaction rate," the processor said. The lowest assured transaction rate goes to the processor which can process transactions most quickly and accurately with the lowest percentage being diverted to Visa's stand in processing system.
Visa's stand in processing program allows the card brand to process transactions for a processor when that processor might be overwhelmed by transaction volume.
"We congratulate Fifth Third Processing Solutions for qualifying 15 consecutive years to receive a Service Quality Award," said William M. Sheedy, group executive for the Americas with Visa. "This award acknowledges consistent, superior performance, and continued service quality improvements."
