Payment tech company TSYS said it has signed an agreement to acquire ProPay, a Lehi, Utah-based payment solution provider. ProPay works mostly with small and micro-merchants, approximately 250,00 of them, and offers services like mobile POS solutions.

"The acquisition of ProPay is another step in our long stated goal of becoming a top 10 global acquirer that delivers innovative products," said Philip W. Tomlinson, chairman of the board and chief executive officer, TSYS. "The move positions TSYS to capitalize on the explosive growth of mobile and more effectively compete in the small and micro-merchant segment."

ProPay CEO, Gary Goodrich, said his company has been a longstanding client of TSYS so it is well-acquainted already with the TSYS team, offerings and culture.

The deal should close later this year pending regulatory approval. Actual terms of the deal have not been not disclosed at this time.

For more stories like this, visit the POS research center.

Related Content

User Comments – Give us your opinion!
Products & Services

Qwick Codes Mobile Wallet


Managed API Exposure


TIO Mobile Pay


Cellum Web Checkout


Infobip Mobile Payments - Centili


IVR Billing


Premium SMS Billing (P-SMS) and Short-Codes


JunglePay - Mobile Payment and Online Billing Solution


QwickPAY Mobile POS


Cellum Mobile Next


Wallet Wars
CONNECT 2014 Mobile Innovation Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.