Payment processor First American Payment Systems LP said Jan. 7 it has purchased the entire portfolio of independent sales organization accounts and associated contracts from Chase Commerce Solutions, the global payment processing and merchant acquiring business of JPMorgan Chase & Co.
Terms of the transaction were not disclosed.
Based in Fort Worth, First American has more than 25 years of experience in providing sales and operational support for Independent Sales Organizations.
“This is an exciting acquisition for us because we are passionate about helping ISOs understand today’s payments ecosystem and how they can navigate it to grow their revenue,” said Neil Randel, CEO of First American Payment Systems. “This purchase expands one of our core business strategies in delivering payments expertise and support to our sales partners. We welcome our new partners and look forward to providing them with additional services and products to take their business to the next level.”
First American provides comprehensive electronic transaction processing services for more than 140,000 merchants throughout the United States and Canada. In addition to credit, debit and EBT card processing, First American offers a complete line of proprietary business solutions, including 1stPayPOS tablet-based point-of-sale system, 1stPayMobile, Secur-Chex check services, FirstPay.Net e-commerce solutions, and Govolution government e-payments.