23 August 2017
Find out more

CardSystems secures $23.6 million funding

02 April 2003  |  2957 views  |  0 CardSystems secures $23.6 million funding

US electronic payments processor CardSystems has secured $23.6 million funding in a private placement arranged by Chicago-based William Blair & Company and led by new investor Camden Partners.

Camden Partners joins existing investors Equity Dynamics, Principal Financial Group and Edgewater Private Equity Funds.

CardSystems says it will use the funds to improve and expand its payment processing services for its independent sales organisation (ISO) and acquiring bank clients. Investments will also be made in expanding customer services, financial and sales and marketing departments.

Scott Patterson of William Blair & Company, says: "The company's strategy of increasing market share by providing intelligent technology for processing electronic payments, while also focusing on delivering high-quality customer service, is an approach we are confident will prove successful."

CardSystems' 'intelligent technologies' include an expert system, neural network and service offerings optimised for the card processing industry. The company processes transactions for more than 60,000 merchants through its network of ISO's and merchant acquirers.

Headquartered in Northern Virginia, CardSystems' transaction processing services are available on an application service provider (ASP) or business service provider (BSP) basis.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.niceactimize.comdownload the paper now

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20479 views comments | 43 tweets | 84 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13383 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11991 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11252 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11116 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job