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International Payments Launches $150 Million Acquisition Plan |
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A team of veteran merchant services executives, backed by over $150 million in private funding, is setting out to expand a new company by acquiring independent sales organizations that provide payment card processing services in the U.S. and Canadian markets and the merchant card processing portfolios of financial institutions.
International Payments Corporation (IPC), the new San Jose-based company, is directed by David McMackin, a 15-year merchant services professional and President and CEO of AmericaOne Merchant Services, Incorporated.
“While some merchant services acquirers are sitting on the sidelines in today’s uncertain economy, IPC has a planned series of acquisitions well underway,” says McMackin. “IPC is targeting medium-sized merchant services companies that provide credit, debit and other transaction processing services for merchants and will announce its first acquisition soon.”
IPC and its private equity partners believe the current economic environment provides unique expansion opportunities for companies that have the capital and can successfully engage and deploy it. In addition to purchasing card portfolios from its target acquisitions, IPC will be partnering with select merchant services companies by providing growth capital and sharing its proprietary technologies and techniques that have proven to increase account sales and merchant retention. The plan is designed to help keep talented owners and executives from the acquired companies onboard by partnering with them and sharing the future growth and profits of the company.
Over the last 15 years, McMackin has been developing and implementing proprietary systems for managing merchant services businesses. He believes IPC’s new acquisitions will benefit from innovative sales training, management and support tools designed to be easily integrated and scalable to fit any size business. These tools will facilitate growth while maintaining very low attrition rates.
International Payments Corporation (IPC) is a national merchant services company that delivers secure, scalable and reliable payment processing solutions to small- and middle-market businesses, large corporations, governments, financial institutions, and independent sales organizations. IPC processes electronic payments between buyers and sellers, utilizing virtually any payment device or form of electronic payment, including credit and debit cards, checks, and gift cards. IPC currently provides service in the United States with more than 20 partner/regional sales teams. For more information, visit www.intlpay.com. (Via Business Wire) |
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