Financial Transaction Services (FTS) has purchased two affiliated electronic payment processing system companies in Pittsburgh namely, Dependable Payment Processing and Discount Payment Processing (together known as DPP).
In accordance with terms of the deal, FTS and DPP will co-operate to deliver reliable service to their shared customers, utilizing their online portfolio management tools and agent center.
Thomas Shanley, who will remain CEO of DPP on completion of transaction, said that the deal will not affect business of DPP and will continue with same procedures and employees.
FTS president Jeff Shanahan said, "As one of the fastest-growing Independent Sales Organizations in the region, DPP will provide FTS with another strategic distribution sales channel and strengthen our presence in our home state of Pennsylvania."
Operating from its headquarters in Mars, Pennsylvania, DPP will integrate its sales and operational expertise with FTS, which will enable the purchaser to boost its annual volume, while strengthen executive bench.
FTS, which is privately owned and backed by FTV Capital, offers electronic transaction processing services to merchants, independent sales organizations (ISOs) and financial institutions.
DPP delivers credit card processing and electronic payment services, such as debit card processing, cheque services, and card and loyalty programs.