JetPay Corporation acquires ACI Merchant Systems

Tuesday 11 November 2014 13:00 CET | News

JetPay Corporation, a provider of debit and credit card processing, has acquired ACI Merchant Systems.

The combined company will process approximately USD 20 billion in payments for approximately 14,000 businesses throughout the US.

The acquisition will be funded by a combination of a credit facility from Metro Bank of Harrisburg, PA, the sale of Series A Preferred Stock to Flexpoint Ford under an existing commitment, and the issuance of shares of JetPay common stock.

JetPay is a provider of vertically integrated services for businesses including card acceptance, processing, payroll, payroll tax filing and other financial transactions. JetPay provides customers with payment services, including batch processing, authorisation, cheque guarantee and cheque conversion.

ACI Merchant Systems is a provider of transaction processing services and payment technologies to financial institutions, VARs and merchants. ACI provides payment processing services to an entire array of merchant types and sizes, ranging from the smallest of home-based businesses to mid-sized and high-volume merchants.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: JetPay Corporation, ACI Merchant Systems, debit, credit card, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce