Transaction processor TransFirst has purchased RST Ventures Inc., an electronic payment processing services provider that does business as US Merchant Services, TransFirst announced Oct. 5.
Terms were not disclosed.
As an ISO, Cypress, Calif.-based US Merchant Services has operated under a sales-partnership agreement with TransFirst since 2004, offering TransFirst’s products and services to its own payment-processing customers. Because of that arrangement, many of US Merchant Services’ customers already are familiar with TransFirst’s payment processing and support, which should help to facilitate a smooth transition as the companies become one, the companies noted in a press release.
Under the purchase agreement, US Merchant Services staff will become TransFirst employees and will continue operations in Cypress.
“Taking ownership of [US Merchant Services] gives TransFirst the opportunity to leverage their considerable resources selling mid-market merchant products and services, including a diverse merchant portfolio and an outstanding group of professional staff,” John Shlonsky, TransFirst president and CEO, said in the release. “The purchase fits in perfectly with TransFirst’s strategic plan for ongoing company growth.”
