Pay By Touch announced that it has agreed to acquire CardSystems Solutions, Inc., a merchant payment processing provider with approximately 120,000 merchants. This comes two days after Cybersource terminated its negotiations with CardSystems. The terms of the Pay By Touch-CardSystems deal were not disclosed.
“There are tremendous synergies between CardSystems and Pay By Touch,” said John Rogers, founder, chairman and CEO of Pay By Touch. “We are eager to optimize the existing sales and marketing channels that have produced exceptional growth for CardSystems over the past several years. This will be an excellent addition to our existing Pay By Touch merchant services processing business. Additionally, Pay By Touch will work to offer its patented biometric products to CardSystems’ Independent Sales Organizations (ISOs) as a new feature for their merchant base.”