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

BulleT wireless secure card reader authenticator

http://global.networldalliance.com/new/images/products/4296.png

4296/BulleT-wireless-secure-card-reader-authenticator

TIO Mobile Pay

http://global.networldalliance.com/new/images/products/4446.png

4446/TIO-Mobile-Pay

Peer-to-Peer

http://global.networldalliance.com/new/images/products/6743.png

6743/Peer-to-Peer

Total-Mobile Merchant Services

http://global.networldalliance.com/new/images/products/6199.png

6199/Total-Mobile-Merchant-Services

Netverify™

http://global.networldalliance.com/new/images/products/6341.png

6341/Netverify

Highway Toll Payment

http://global.networldalliance.com/new/images/products/6747.png

6747/Highway-Toll-Payment

Mobile Money Cash Solution

http://global.networldalliance.com/new/images/products/6415.png

6415/Mobile-Money-Cash-Solution

Bulk SMS

http://global.networldalliance.com/new/images/products/6121.png

6121/Bulk-SMS

JunglePay - Mobile Payment and Online Billing Solution

http://global.networldalliance.com/new/images/products/4534.png

4534/JunglePay-Mobile-Payment-and-Online-Billing-Solution

Cellum Top-Up

http://global.networldalliance.com/new/images/products/6741.png

6741/Cellum-Top-Up

VAS Show London 2014
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.