Viewpointe®, a managed service and payments provider to regulated industries, announced that it has reached an agreement with WesPay (Western Payments Alliance), a membership association promoting the best use of electronic payments, whereby WesPay will acquire the assets of Viewpointe's Regional Payments Association (RPA).
Terms of the deal were not disclosed. Both organizations are working diligently to complete the conditions of closing by year end. When closing conditions are met and the deal is completed, WesPay will retain full ownership of the assets. The expanded association will continue to do business as WesPay.
"This transaction delivers on Viewpointe’s intended business objectives, enabling us to focus on our core businesses – our information governance platform, OnPointe®, and payments services," said Viewpointe Chairman and CEO Lou Buglioli. "As a strong company with deep expertise in delivering services to the regulated industries, this agreement allows us to deliver best-in-class solutions to our valued customers, while the merged RPAs can offer more depth of resources to its members."
Viewpointe’s Regional Payments Association provides education on the latest payments topics and certification preparation for payments professionals; offers expert-led ACH audit and compliance services for financial institutions, payments processors and businesses using ACH; and provides industry-level member advocacy and input into the ACH Rules-making process as a voting member of NACHA — The Electronic Payments Association.
"This is an exciting and dynamic time in the electronic payments industry and WesPay’s continued evolution enables us to deliver enhanced services for our members," observed William Schoch, President & CEO of WesPay. "Our expanded staff includes industry experts with experience in ACH, check, wire and card payments networks. This breadth of knowledge and industry experience allows us to better engage with our members on a wide range of issues."
The combined service area of the new organization will be home to 25 percent of the nation’s population covering twelve Western and Mountain states and Pacific territories: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Nevada, northern New Mexico, Oregon, Utah, Washington, Wyoming, as well as American Samoa, Guam and the Northern Mariana Islands.