Charge Payment has acquired Trust One Payment Services, which delivers credit and debit card processing services to small- and mid-sized businesses, mainly in the southeastern US.
Financial terms of the agreement have not been disclosed; however the acquired entity will continue its current operations as a wholly owned subsidiary of Charge Payment.
Trust One currently processes more than $700m in annual charge volume for nearly 2,800 merchants, diversifying across a range of business sectors, mainly outsourced receivables management and e-commerce.
Under terms of the transaction, Trust One founder, president Rob Cason and his team will continue to operate in Villa Rica, Georgia, US.
"With Charge Payment, we expect to have access to the capital, management expertise and business model required to drive long-term growth and profitability, benefiting our agent and agent bank partners and enhancing our innovative, high quality merchant services," Cason added.
Based in Nashville, Tennessee, Charge Payment operates as a credit and debit card transaction processing company and offers processing services to merchants throughout the US.