Global payment technology solutions company First Data Corporation (NYSE: FDC) recently announced it had completed the acquisition of BluePay Holdings, Inc., a provider of technology-enabled payment processing for merchants in the U.S. and Canada. The acquisition will reportedly improve commerce by helping to enhance merchants’ integrated payment solutions, including software-enabled payments and Card-Not-Present transactions.
First Data Acquires BluePay
According to the Atlanta-based global payment tech company that offers PIN-secured debit acceptance at ATM and retail locations, BluePay offers software integration solutions that complement those offered through First Data’s CardConnect business. First Data processes approximately $19 billion in annual sales volume for more than 77,000 merchants, and is integrated into more than 450 software platforms.
“The addition of BluePay’s integrated Card-Not-Present solutions to CardConnect’s cutting-edge ISV product suite affords First Data a unique and comprehensive offering in the high-growth integrated payments space,” First Data Chairman and CEO Frank Bisignano, said in a statement.
Evolving Integrated Payment Solutions
Integrated payment solutions include all those tools your small business can use to integrate accounting, customer relationship management (CRM) and other business applications with payments processing. These integrated payment solutions are increasingly becoming a critical part of many businesses, and can help you save time and money, reduce errors and give you a better view of your business.
And because every small business wants to get paid — and get paid faster, this acquisition is expected to enhance both companies’ service offerings, and could be a welcome move for their clients.
“We believe First Data can accelerate our software-driven payments strategy and provide value to clients and partners through the combination of First Data’s payment facilitation capabilities, global processing expertise, and an unparalleled distribution network,” BluePay CEO Bala Janakiraman said on October 20, 2017 when it was first announced the company was being acquired from its previous owners, TA Associates and BluePay Management, for $760 million in cash, subject to adjustments.
Janakiraman will continue to lead BluePay operations following the acquisition.
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