Electronic Payments Processing acquires AssureBuy
Electronic Commerce Acquisition Fund I, LP, a Palm Beach Gardens headquartered private equity fund, has announced that its wholly-owned subsidiary, Electronic Payments Processing, LLC, has purchased the business of AssureBuy, Inc., located in Schaumburg, Illinois.
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Since 1994, AssureBuy's payment gateway has securely processed tens of millions of credit card transactions representing billions of dollars in sales for merchants. AssureBuy also offers secure web site hosting and other related services including IntegriCharge, a seamlessly integrated secure web site order management system; View N Pay, an electronic invoice payment system for small and mid-sized companies; and AssureBuy Payment Processing, a fully-integrated credit card processing add-on for the Microsoft Business Solutions Great Plains accounting software.
"AssureBuy is excited to join with the Electronic Commerce Acquisition Fund I, LP portfolio of outstanding Ecommerce companies", said Jeffrey Punzel, President of AssureBuy. "The Fund's unique blend of solid experience and commitment to our industry ensures that AssureBuy will be well positioned for growth in the rapidly changing electronic payment processing marketplace."
"We are pleased to welcome AssureBuy into our growing family of payment processing companies," said Gary Whitney, the CEO of Electronic Payments Processing, LLC. "AssureBuy represents an important part of the Fund's vision to place under one umbrella organization all services needed by our merchants to process electronic payments. We refer to this as the Electronic Commerce's Integrated Solution Offering."