TransFirst Acquires Payment Resources International

Tuesday 30 March 2004 15:09 CET | News

Dallas-based TransFirst has acquired Newport Beach, Calif.-based Payment Resources International (PRI). With the acquisition of PRI, TransFirst adds approximately $1.8 billion in annual processing volume and 7,500 total merchant contracts.

Additionally, TransFirst acquires proprietary, internally developed technology capable of supporting TransFirsts growth in Internet-based credit card processing, ACH / check conversion processing, recurring billing and wireless processing. It also solidly positions the company within the value-added sector of the payments processing industry. The acquisition of PRI was effective March 1, 2004. PRI is the second acquisition TransFirst has announced this month, following the announcement of the acquisition of Fifth Third Bank Processing Solutions third party sales merchant division. Combined, the two acquisitions have more than doubled the companys size, increasing annual processing volume from approximately $8.5 billion to $18.5 billion and ranking the company as the nations 12th largest processor, according to The Nilson Reports 2002 list of top U.S. bank card acquirers. The acquired company will now be known as Payment Resource International, a TransFirst Company.

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Categories: Payments & Commerce | Payments General
Countries: World
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