PAI buys AMI Merchant credit and debit processing portfolio
05 December 2007 | 2071 views | 0
Source: AMI Merchant Solutions
AMI Merchant Solutions (AMS) announces today the sale of its credit and debit processing portfolio to Payment Alliance International (PAI), with the immediate transfer of existing customers to the PAI processing network.
"The sale of AMS' processing portfolio helps us focus resources on our core business: providing funding to small businesses through AdvanceMe, Inc. as well as its processing and sales partners," explains Glenn Goldman, chief executive officer of Capital Access Network, parent company of AMS. He continues, "AMS was created to expedite funding requests from our customers. Over the past year we've entered into arrangements with several outstanding processing partners that can handle the needs of our merchants going forward."
With the acquisition, AMS customers will gain access to PAI's variety of payment acceptance products including credit and debit card processing, check acceptance, gift and loyalty programs, Check 21 services and a full range of ATM processing programs.
In addition to the service enhancements available to merchants, PAI offers a 24-hour Web-accessible merchant site. From this site, merchants can obtain detailed deposit information, statements, chargebacks and many more features. PAI customers will also benefit from extended weekday and Saturday telephone support hours.
Through an existing agreement with AdvanceMe, Inc., PAI will continue to facilitate, without interruption, Merchant Cash Advance payments to AdvanceMe on behalf of transferred AMS customers. Existing and new PAI customers will also be able to apply for a Merchant Cash Advance powered by AdvanceMe.
"We're excited to welcome AMS' merchants to our organization, and believe our broad base of services will afford these customers new opportunities to expand the ways in which they are served," said John J. Leehy III, president and chief executive officer of PAI.