Melville, N.Y., March 17, 2010 -- Capital Payments announced today that it has made its fourth acquisition, purchasing a specific portion of merchant assets from Merchant Services Group, Inc. (MSG) and entering into a long-term distribution agreement with MSG's principals. Based in Syosset, New York, MSG is an electronic payments services company specializing in credit card and check processing, and other payment related services for small and medium-sized businesses, corporate merchants and ecommerce merchants.
The acquisition and alliance agreement with Merchant Services Group supports Capital Payments' ongoing strategy to offer merchant acquiring entrepreneurs opportunities to monetize their existing portfolios and benefit from Capital Payments' multiple processing relationships, geographic diversity, robust sector-specific product offerings and novel technology. MSG's merchants extend Capital Payments' commitment to being the leading national provider of payment solutions to the Trusted Advisor community and their small business clients.
"We are aggressively looking to add entrepreneurs and their portfolios to our platforms, and feel that our speed and financial flexibility as well as our comprehensive suite of payment related products positions us as a leading merchant acquirer," states Todd S. Whiton, President and CEO of Capital Payments.
Headquartered in Melville, NY, Capital Payments, LLC supports Trusted Advisors such as CPAs and attorneys in working with their small- and mid-sized business clients. Capital Payments is financially backed by Hamilton Investment Partners and Financial Partners, a business unit of Citi Capital Advisors. "We are pleased to support Capital Payments in delivering a superior level of merchant processing to Trusted Advisors and their clients, and we look forward to continuing to work with Todd Whiton, CEO and Pat Keller, CFO, and our partner investors on future successful acquisitions," said Manu Rana, Managing Director of Financial Partners. Capital Payments was represented in the transaction by Jaffe, Raitt, Heuer & Weiss.
About Capital Payments, LLC
Capital Payments is a leading provider of merchant and electronic payment solutions. The company is uniquely focused on working with Trusted Advisors to help them navigate their business clients through the increasingly complex world of electronic payments. The company provides transparent and competitive pricing, very fair terms and conditions, and best of breed payment products and services to its merchants. Capital Payments is led by industry veterans with decades of experience in working with small and midsized businesses and their CPAs, Accountants, Attorneys, and other trusted advisors. For more information, please visit www.capitalpayments.com .
About Merchant Services Group
Servicing thousands of merchants nationwide, Merchant Service Group, Inc. understands that offering electronic payments in today's world is a necessity for your business. Merchant Service Group provides an array of electronic payment processing options to retail, restaurant, mail order, telephone order, and Internet businesses. Services include credit, debit and EBT card processing, check conversion and guarantee, electronic gift certificate processing, and equipment leasing and sales.
About Hamilton Investment Partners
Hamilton is a private investment firm that makes equity investments in partnership with superior management teams, focusing primarily on small and middle market buyouts and growth capital financings. Following each investment, Hamilton intends to play an active role on the board of directors in guiding the company and developing its expansion and exit strategies. Together, the firm's partners have completed more than 40 financings over the past 25 years. For more information please visit www.hamiltoninvestment.com .
About Financial Partners
Financial Partners, a business unit of Citi Capital Advisors, seeks to provide primary, secondary and special-situations capital to financial services businesses and companies servicing financial institutions. Financial Partners aims to provide equity, debt or hybrid capital for event-, special situation, or growth, acquisition or recapitalization financing. Its goal is to finance exceptional management teams who can take advantage of the skills and relationships of the Financial Partners investment team to catalyze or accelerate the creation of durable value in their companies. Citi Capital Advisors, a unit of Citigroup Inc., manages $14 billion globally on behalf of institutional, corporate, sovereign and individual investors.
Source: Company press release.
Verifi and ThreatMetrix Partner to Provide Advanced Payment Fraud Detection
Verifi, Inc., a leading provider of payment risk management systems and ThreatMetrix, the only fraud control network that enables online businesses to verify payments, authorize new accounts and authenticate returning customers, announced today a partnership to provide merchants with advanced fraud detection capabilities for web payments.
LOS ANGELES--(BUSINESS WIRE)--Verifi™, Inc., a leading provider of payment risk management solutions for card-not-present (CNP) merchants announced today a partnership with ThreatMetrix™, a fast growing provider of fraud detection solutions, to deliver advanced fraud detection to merchants through Verifi’s payment risk management system.
“Card-not-present merchants can now benefit from the combined capabilities of the ThreatMetrix Fraud Network with Verifi’s leading global electronic payment and risk management solutions to fight CNP fraud and streamline customer web payments”
The partnership provides Verifi customers with an additional protective layer of on-demand fraud intelligence and data matching to help merchants detect fraudulent customers and identify good and returning customers. Through Verifi’s platform, customers will have access to ThreatMetrix’s forensic risk assessment tools and its global fraud knowledge share database.
Current customers already use Verifi’s full service payment management system, which screens and reviews high risk transactions and comes with the best possible suite of proprietary and third party fraud detection and prevention tools. Clients also use Verifi’s best-in-class managed services for declines, refunds and chargebacks. The addition of ThreatMetrix’s advanced fraud tools and network to Verifi’s full service risk and fraud payment management system, analytics and reporting provides Verifi customers with the strongest defense against hackers, cybercriminals and large-scale global fraud enterprises without disrupting the consumer checkout experience. And with Verifi’s single source platform, customers gain immediate access to all of Verifi’s partner fraud and risk management solutions without the need for any additional integration.
“Card-not-present merchants can now benefit from the combined capabilities of the ThreatMetrix Fraud Network with Verifi’s leading global electronic payment and risk management solutions to fight CNP fraud and streamline customer web payments,” said Alisdair Faulkner, chief products officer, ThreatMetrix.
“One of the most common challenges we hear from our customers is how frequently they must plan for, invest in and allocate internal resources for the implementation of new technologies. Reducing this burden is one of the added benefits customers receive when they use Verifi’s platform. By partnering with ThreatMetrix, we not only significantly reduce this burden, but we continue our quest to provide our clients with the best and most complete set of global fraud tools available.” Jeff, Sawitke, Vice President, Product Management, Verifi Inc.
About Verifi
Verifi™ is a leading provider of global electronic payment and risk management solutions for card-not-present merchants. The highly customizable payment and real-time reporting platform serves as a foundation for Verifi’s suite of fraud solutions and risk management strategies. With a commitment of reducing risk while increasing profitability for clients, Verifi’s multi-layered approach enables transaction risk management and mitigation, business optimization strategies, cardholder authentication and chargeback re-presentment for all major credit card brands. Verifi is PCI Level 1 certified and headquartered in Los Angeles, California with a satellite office in Redwood Shores, California. For more information on Verifi, please visit: http://www.Verifi.com or please email us at Info@Verifi.com.
Media Contact: Catherine Magee Verifi, Inc. 323-655-5789 |
ThreatMetrix (www.threatmetrix.com) helps companies stop web fraud and enable e-commerce. The ThreatMetrix Fraud Network helps online businesses verify new accounts, authorize payments and transactions and authenticate user logins in real-time without relying on personally identifiable information (PII). ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix device profiling goes beyond browser fingerprinting to identify the device, bypass proxies and detect the use of botnets. ThreatMetrix’ simple and cost-effective SaaS approach to implementation enables companies to get results in hours or days, rather than weeks or months. The company serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including social networks (dating, gaming), financial services, e-commerce, affiliate marketing and payments. For more information, visit www.threatmetrix.com or call 1-650-625-1451.
Media Contact: Kevin Wolf ThreatMetrix 650-327-1641 |