ePayments, a leading electronic payments processing and support services company, has announced the acquisition of Mobile, Ala. - based Automated Check Recovery (ACR).
The acquisition adds a substantial number of educational services accounts to ePayments electronic check collection (RCK) business.
Under terms of the acquisition, Automated Check Recovery managing partner Sean Ros joins the ePayments organization. Ros will serve as National Sales Manager of Educational Financial Services. The division specializes in helping schools of all sizes - and the many organizations and activities associated with education - process and collect check payments.
"ACR is a quality organization that expands our presence in the educational services marketplace specifically, and it maintains our status as the dominant provider of electronic payments and recovery services in the US" said Lufkin.
Founded in 2003, ACR's regional clients include school districts in Alabama, Mississippi and Tennessee. Financial terms were not disclosed; no reduction in staffing at either company is expected, though additional staffing is anticipated at the ePayments HyperCustomer Service center in 2007.
"Joining with ePayments is an excellent move for us and our customers," said Ros. "By integrating with the ePayments organization, our customers will now have access to a dedicated, national customer service team serving the educational financial services industry."
ePayments specializes in working with companies, schools, non-profits and government organizations of all sizes who handle payments in the form of check and credit card transactions. Since US banking system rules were changed to allow businesses to use the Automated Clearing House network (ACH) and Check 21 methodologies to electronically process checks from customers, a new industry of providers has emerged to support businesses with electronic check conversion, electronic NSF collection and related compliance services.