Deluxe Corp. will take over bill payment processing for private-label credit card issuer Synchrony beginning next year, absorbing Synchrony’s remittance operations and employees in Florida and Georgia.
The move aligns with a new focus for Deluxe, the 105-year-old check-printing company, which aims to expand its role in payments and cloud-based financial services, according to a Wednesday press release.
Shorewood, Minn.-based Deluxe, which already has a robust business preparing other corporations' checks for deposit — including resolving rejected and misdirected payments — will take over these operations for Synchrony through its treasury management solutions unit, the release said.
“Synchrony was already utilizing our remittance processing technology and equipment in Longwood, Fla., and Atlanta, so this is a natural fit for both companies,” said Barry McCarthy, Deluxe’s president and CEO.
McCarthy joined Deluxe a year ago from First Data Corp., where he served for 15 years in a variety of executive positions, most recently as vice president of network and security solutions.
In addition to remittance-processing and payments technology, Deluxe continues to supply corporations with promotional products and checks.
