International Payments (IPC), a national merchant services company, has announced that a team of merchant services executives backed by over $150 million in private funding is setting out to expand a new company by acquiring independent sales organizations. It is expected to provide payment card processing services in the US and Canadian markets and the merchant card processing portfolios of financial institutions.
Reportedly, International Payments Corporation (IPC), the new California-based company, is directed by David McMackin, a 15-year merchant services professional and president and CEO of AmericaOne Merchant Services.
IPC has said that in addition to purchasing card portfolios from its target acquisitions, it will be partnering with select merchant services companies by providing growth capital and sharing its technologies and techniques that have proven to increase account sales and merchant retention. The plan is designed to help keep talented owners and executives from the acquired companies onboard by partnering with them and sharing the future growth and profits of the company.
Mr. McMackin said: “While some merchant services acquirers are sitting on the sidelines in today’s uncertain economy, IPC has a planned series of acquisitions well underway. IPC is targeting medium-sized merchant services companies that provide credit, debit and other transaction processing services for merchants and will announce its first acquisition soon.”
