EFT Source to be acquired by CPI Card Group

card payment

EFT Source has announced it has signed a definitive agreement to be acquired by partner, CPI Card Group.

In this acquisition, EFT Source adds advanced personalisation capabilities to further enhance CPI’s existing personalization expertise and strengthen CPI’s reach into small- to medium-sized financial institutions across the US. Also CPI’s customer base will have direct access to EFT’s patented instant issuance solution, Card@Once, allowing them to deliver fully functioning, traditional or EMV-capable payments cards to customers within seconds.

“As longstanding partners, CPI and EFT Source share a common philosophy and focus on superior customer service delivery,” said Steve Montross, President and CEO of CPI Card Group. “Now, through this acquisition, we are combining CPI’s and EFT Source’s unmatched capabilities and increased capacity to deliver more customized programs, superior card production and greater personalization services. We’re very excited about this combination and the value that it will provide to our customers.”

“We’ve worked with CPI Card Group for more than 15 years, providing for great familiarity across our organizations as well as our management teams,” said Bill Dinker, President of EFT Source. “Our company was a natural fit and this allows us to expand our product offering and drive growth within the industry, particularly in relation to the US market migration to EMV. This will provide substantial opportunity for our organization.”

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