CardWorks acquires Pay By Touch processing assets
CardWorks Processing announced today that it has acquired the operating assets of Pay By Touch Processing, Inc., a subsidiary of Solidus Networks, Inc.
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The acquisition was approved by the United States Bankruptcy Court for the Central District of California and was executed through a newly established Merrick Bank subsidiary, doing business as CardWorks Processing. The data processing assets being acquired are used by merchants to facilitate the acceptance of credit and debit cards through major payment networks, including VISA and MasterCard.
"We are focused on ensuring that merchants using Pay By Touch processing retain the uninterrupted ability to accept payment cards and maintain continuity in the payment system," said Dave Watson, Chairman of Merrick Bank.
Merrick Bank will also work with the major payment networks and appropriate regulatory authorities to ensure the continued integrity of the information security systems associated with the newly acquired data processing assets.