Payment processor makes major technology acquisition
The ways in which businesses and consumers pay for goods and services are changing rapidly. Whereas previously cash and paper checks were the predominant methods by which consumers paid for goods, more recently digital payment methods have gained in popularity.
As a result, the business of credit card and check processing services is more important than ever to companies. That's because the reduction in use of these methods has increased the price of processing, requiring more businesses to contract out for the service.
Recently, Intrix Technology, Inc., a leading payment processor, announced that it has acquired Merchant Processing USA, which is based in Southfield, Michigan.
This is the fifth major technology acquisition that Intrix has made this year. The company's goal is to grow its own offerings, and Merchant can help thanks to its specialization in serving small- and medium-sized businesses.
"We look forward to welcoming these merchants to the Intrix family," Jeffrey Connors, Chief Executive Officer of Intrix, said in a statement. "Merchant Processing USA has 'made commitment to exceptional service' the cornerstone of their customer satisfaction standards—and it is one of the reasons we acquired them. Intrix' investments in technology, innovation and customer service will continue to deliver on Merchant Processing USA's tradition of service excellence for its merchant customers."
Merchant, for its part, appears enthusiastic about the opportunity to work with a company that shares its goals.
"Merchant Processing USA prides itself on its honesty, integrity, clarity and exceptional customer service and we are confident that our merchants will be in good hands with the Intrix team who believe highly in these core foundational principles," Merchant principal Michael Sharrak said in a statement.