October 24, 2014
Troy, MI, Oct. 24, 2014 – North American Bancard (NAB), preeminent among the nation’s top payment services companies and the leading provider of the PayAnywhere suite of mobile point of sale solutions, today announced the acquisition of Electronic Payment Exchange (EPX), a global, full-service credit card, debit card, stored value, and electronic check (ACH) payment transaction processor. EPX operates its own fully integrated card authorization, clearing, and settlement platforms. This acquisition deepens North American Bancard’s position in the payments space and enhances its ability to deploy and support payment solutions to merchants, sales partners, and financial institutions. This move comes on the heels of NAB’s recent successful launch of PayAnywhere Storefront, the industry’s first cloud based tablet point of sale solution provided free to merchants with activation, as well as the asset acquisition of IP Commerce’s payment platform technology, now known as NAB Velocity, a feature rich platform of services that provides Independent Software Vendors (ISVs) and point of sale software companies a one stop integration point for all payment processing services.
Founded in 1979 and focused on the nation’s largest merchants, EPX has built a portfolio that exceeds $18 Billion in annual processing volume. By operating as a fully integrated payment facilitator, EPX differentiates itself in the marketplace by providing real time interchange optimization and state of the art secure transaction solutions. The combination of these two companies gives EPX the sales, marketing, and customer support engine that has powered North American Bancard into its market leading position and enables NAB to leverage EPX’s product and skill set to pursue new and more complex market segments.
“I see EPX as a hidden jewel. Acquiring the technology to bring processing in-house is a significant opportunity for this organization. Not only is there potential for an eight figure annual cost savings but this move also brings us the ability to further expand EPX’s card acceptance platform in Latin America and Europe where they enjoy extensive processing relationships today,” said Marc Gardner, Founder, President, and CEO of NAB.
EPX’s expertise in processing security goes unmatched in the industry and will help NAB fortify its platforms as they look to roll out new products and features. The additional vertical integration that comes with being an end-to-end processor will allow NAB to significantly reduce its operating costs, decrease its dependence on third party partners, and gain market share. By owning the process from origination all the way through settlement of interchange, NAB has more flexibility in tailoring solutions to customers’ needs.
About North American Bancard
Headquartered in Troy, Michigan, North American Bancard is a multi-faceted payment solutions provider dedicated to providing the latest technology as well as the highest service levels to non-profit organizations and businesses of all sizes with round-the-clock technical and customer service support. As a registered ISO since 1992, North American Bancard provides its clients with a full suite of products and services, ranging from traditional terminals to their proprietary mobile point of sale solution, PayAnywhere. North American Bancard processes more than $16 Billion in electronic transactions annually for more than 250,000 merchants nationwide.
About Electronic Payment Exchange
Founded in 1979, EPX is a full-service credit card, debit card, and electronic check (ACH) payment processor providing secure front-end and back-end payment solutions that utilize tokenization and encryption technologies. EPX provides a straight through, fully integrated, secure payment processing platform and is dedicated to providing merchants with the most secure and cost-effective payment processing services. We will continue to research, build, implement, and support industry-leading payment processing solutions that facilitate PCI compliance, protect merchants, and enhance consumer confidence.