The business unit offers custom payment solutions across range of communication protocols. It supports transactions from all major credit cards, as well as private-label, travel & entertainment and fleet cards.
CT-Payment will immediately interface its newly acquired platform to its current payment solution. To insure a trouble-free and smooth transition, Telus and CT-Payment have entered into a set of managed service agreements, the first one ensuring a smooth transition for the application development, maintenance, support and client care functions.
The second one will ensure the hosting, operations, and overall management of the IT infrastructure for a duration of 5 years. CT-Payment and Telus will work closely together to maintain quality services for all customers.
Denis Savard, CEO of CT-Payment, said: “This acquisition is consistent with our strategy and makes us the largest third party payment processor with actual connections to all Canadian acquirers.
“Our integrated solution combined with our neutral stance towards acquirers makes it possible for our merchant-customers to switch acquirer without operational impacts. Merchants will use this capability to better negotiate the credit card processing rate – or merchant discount rate – charged to them.”
Keith Nugara, senior vice-president, Telus Financial Services, said: “Both CT-Payment and Telus are committed to ensuring the integration is operationally seamless and transparent for our customers.”
