The announcement follows the successful vote by the overwhelming majority of PaymentsNations' members to approve the transaction.

Terms of the deal were not disclosed. Both organizations are working diligently to complete the conditions of closing in the near future. When closing conditions are met and the deal is completed, the company will become a wholly owned subsidiary of Viewpointe, LLC.

"The evolution of today's payments industry is the breaking down and consolidation of payments silos. We must flex the proverbial muscle of our resources to extend our reach across traditional boundaries, in order to provide the greatest value and most effective products. Viewpointe and PaymentsNation have enjoyed a long-standing relationship as partners in facilitating the transition from paper check to image within the payments industry," said Glenn Wheeler, chief executive officer of PaymentsNation. "We are excited to combine the strengths of our two organizations to enhance our overall product and service offerings."

The newly expanded organization would combine Viewpointe's success with check image clearing, exchange and archive services with PaymentsNation's experience in settlement and ACH. In addition, PaymentsNation is a voting member of NACHA - The Electronic Payments Association, and is one of twenty-one regional payments associations that provide comprehensive payments education and training.

Viewpointe CEO Lou Buglioli stated, "The transaction with PaymentsNation is a logical step for Viewpointe, enabling convergence of clearing and settlement functions that are essential to the payments process for institutions of all sizes. The complementary nature of the two organizations will further leverage the industry investment made in both companies."

PaymentsNation is a long-term strategic partner of Viewpointe. In February of this year, Viewpointe and PaymentsNation announced a new automated settlement service available to Viewpointe image exchange customers. Their strategic alignment, complementary expertise, industry influence and partnership history will facilitate the transition into a single organization.

The consolidated offerings will provide greater value and enhanced options available to institutions working with both organizations. The combined company will provide an amplified, national voice for the financial institutions it serves with regard to the rule-making processes for both check and ACH.