Harbor Payments acquires Velosant

Harbor Payments acquires Velosant

Atlanta-based Harbor Payments has acquired the electronic invoice presentment and payment (EIPP) business operating under the Velosant name from e-payments firm eOne Global.

Financial terms of the sale were not disclosed.

Commenting on the acquisition, Ashish Bahl, CEO, Harbor Payments, says: "We are the only player in the marketplace that can offer a fully integrated solution across all collection and disbursement functions including EIPP, EBPP, payment management and disbursement."

Until its sale, Velosant was an operating unit of eOne Global, which is majority-owned by First Data Corporation.

First Data is also a key investor in Harbor Payments and holds a seat on the company's board of directors.

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