CheckFree Completes Acquisition of American Payment Systems

Wednesday 23 June 2004 14:41 CET | News

CheckFree has purchased all of the outstanding shares of APS for approximately $110 million in cash, subject to certain post closing adjustments. The closing was effective on June 22, 2004.

APS enables 7 million households to pay for services in-person through a national network of about 10,000 retail and agent locations. The new bill payment channel extends CheckFrees reach in electronic billing and payment by reaching 70 percent of consumers in the top 75 metropolitan markets who pay their bills in person at retail locations. In addition, APS serves hundreds of billers with contracted payment services and manages a growing network of non-contracted billers for electronic transaction processing. The acquisition combines the APS footprint with CheckFrees current electronic billing and payment infrastructure to offer billing organizations a wider number of payment processing services from a single company.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce