E-payments outfit First Data Corp. has acquired the remaining fifty per cent ownership interest in California-based Cardservice International, bringing its shareholding to 100%. Terms of the transaction were not disclosed.
Cardservice provides a range of electronic payment solutions, including credit, debit, electronic benefits transfer and electronic cheques. In addition, the company offers point-of-sale hardware and software for brick-and-mortar and Internet payment acceptance. It employs 800 people and utilises a network of 2500 independent sales representatives.
The company will continue to serve clients under the Cardservice brand. Chuck Burtzloff, founder and past president of Cardservice International, will continue to support the company through both the transition period and in the year to come.
Pam Patsley, president of First Data Merchant Services, and senior executive vice president of First Data, comments: "The combined strength of First Data and Cardservice will enable us to deliver specialised payment-processing solutions to a broader base of merchants."