Jack Henry & Associates Rebrands Pemco Technologies Acquisition
Pemco Technologies Rebranded as JHA Payment Processing Solutions(TM), a Division of Jack Henry & Associates, Inc.
MONETT, Mo., June 28 /PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced the rebranding of Pemco Technologies, which it acquired in October 2009. Pemco Technologies will be rebranded as JHA Payment Processing Solutions and will operate as a division of Jack Henry & Associates, Inc. Jack Henry & Associates was contractually committed to rebrand Pemco Technologies within one year of the acquisition.
JHA Payment Processing Solutions will continue Pemco Technologies' long history of operating as a leading provider of payment processing solutions and outstanding client care and service.
The products and services added through this acquisition strategically complement Jack Henry & Associates' ATM and debit card solutions with proven credit and prepaid card solutions, and positions the company to support financial institutions with a broader array of payment-related solutions that are collectively supporting more than 1,000 banks and credit unions.
According to Terry McMullen, general manager of E-Services, "This acquisition supports our goal to provide our clients and prospects with a more complete product offering that includes ATM, debit, credit, and prepaid card solutions and generates more opportunities to increase our presence and potential in the growing payments industry. We believe creating the separate JHA Payment Processing Solutions brand is the most effective marketing, sales, and customer support strategy for the payments products we sell outside our core client base to financial institutions that use virtually any core system. We are also excited about the opportunity to begin selling select JHA Payment Processing Solutions products, which have historically been available exclusively for credit unions, to banks. Initially we will be offering our prepaid cards and debit and credit awards solutions to the bank market."
JHA Payment Processing Solutions has launched an aggressive campaign to systematically communicate the new brand to existing and prospective customers, and to the financial industry at-large.
About JHA Payment Processing Solutions
JHA Payment Processing Solutions provides payment solutions to the financial industry including ATM, debit, credit, and prepaid card solutions. These innovative solutions include one of the largest switch processors in the United States, access to one of the credit union industry's largest surcharge-free ATM networks, online real-time transaction authorization and processing, signature and PIN-based processing, in-house and outsourced fraud prevention and detection solutions, cardholder awards programs, card program management and profitability solutions, card manufacturing and personalization, instant issue and activation, marketing materials and programs, and renowned customer service. JHA Payment Processing Solutions are sold to financial institutions regardless of core processing platform, cross sold to the core credit union clients supported by Symitar™, and select products are sold to the core bank clients supported by Jack Henry Banking™. Additional information is available at www.weknowpayments.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,800 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar™ is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies operates as a leading electronic bill pay provider supporting more than 3,600 banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. Additional information is available at www.jackhenry.com.
