Intrix Technology, a US-based payment processor, has purchased assets of Maas Global Solutions (MGS) for an undisclosed amount.
Maas Global Solutions is a transaction processing technology firm, and operates a payment platform Paymentsite that is capable of processing over nine million transactions in a single day.
Paymentsite supports full retail payment processing, including PIN Debit, Level II/III data and tokenisation of the payment details, and Direct Marketing/MOTO and eCommerce.
It also offers P2P terminal encryption support, EMV, fraud services, integrations and mobile apps for merchants for Android and iPhone, including swipe device support.
Intrix said that the acquisition will improve its technology capabilities, merchant base and vertical reach. Maas Global's internet-based payment processing infrastructures are highly complementary to the firm’s investments in technology and innovation.
Under the deal, Intrix will buy Maas Global's business assets and customer relationships, including strategic accounts in various sectors. Maas Global staff will also join Intrix.
Intrix chairman and CEO Jeffrey Connors said: "This transaction marks a major milestone for the company, dramatically enhancing our presence in large and growing industry verticals including Property Management and Education and transforming Intrix into one of the leading providers of integrated payments technology solutions in the world.
"By combining Maas Global's distribution network and innovative payment solutions with Intrix's technology platform and products, we are developing a payments eco-system that allows us to serve clients in new and exciting ways."