Harbor Payments Emerges As An EIPP Leader Through Velosant Acquisition

Friday 23 July 2004 00:34 CET | News

Harbor Payments has acquired the Electronic Invoice Presentment and Payment business operating under the Velosant LP name from eONE Global LP.

Harbor Payments is now positioned to lead not only the EIPP market, but also the electronic payment and disbursement space as a whole. In spite of increasing client demand and market awareness, the EIPP industry is rapidly consolidating. Driving this consolidation is a lack of critical mass for all but the largest players. Financially strong, viable, well-managed firms will continue to add new customers. Until its sale, Velosant was an operating unit of eONE Global, which is majority-owned by First Data Corporation. First Data Corporation is also a key strategic investor in Harbor Payments and holds a seat on its board of directors.

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Categories: Payments & Commerce | Payments General
Countries: World
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