TSYS is to acquire payment solutions provider, ProPay

TSYS acquires ProPay

TSYS is acquiring ProPay, a payment solutions provider (view press release). ProPay offers merchants self-enrollment, instant activation and simplified pricing to begin accepting payments online and offline. The company offers a mobile payment acceptance dongle, branded as ProPay JAK, which attaches to phones and tablets to process payments and encrypt data. The transaction is due to close in late 2012, when ProPay will become a wholly owned subsidiary of TSYS.

“We have been a long-standing TSYS customer and it has been an excellent partnership. We are well acquainted with their team, offerings and culture, and know this will be a great fit for our customers and team,” said Gary Goodrich, chief executive officer and director at ProPay. “We are focused on expanding and accelerating the growth of our business in the U.S. and International markets, now with the power and reputation of the TSYS brand.”

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