ePayments Corp., a leading electronic payments processing and support services company, has announced the acquisition of ACH Technologies Inc. of Hastings, Minn.
Under terms of the acquisition, ePayments will assume control of and manage the company's check recovery accounts from Denver. The move also allows ePayments to offer additional services to the newly acquired accounts such as credit card processing and electronic check conversion.
"This represents the continuation of our aggressive and successful growth-through-acquisition strategy," said ePayments Corp. CEO Paul Lufkin. "In addition to offering other payment solutions to this new client base, we'll be introducing them to our innovative HyperCustomer Service strategies."
Lufkin said his ePayments Group Of Companies, including its Professional Services division and Educational Financial Services division, are committed to providing more efficient and less costly third party processing of re-presented check collection (RCK) utilizing the ACH Network and ePayments' iSmart check processing technologies and HyperCustomer Service Center.
ACH Network volume, noted Lufkin, continues on a strong growth path. More than 3.7 billion transactions worth more than $7.5 trillion were conducted during the first quarter of 2008, representing growth rates of 8.3 percent and 6.6 percent, respectively, over the same quarter of 2007, according to NACHA, the Electronic Clearinghouse Association.
ACH Technologies Inc. is a privately held company founded in 1984 that has focused on cost-reducing services like Consolidated Returns and electronic check re-presentment (RCK) services for the convenience store and retail gasoline segments.