Credit-card processor TSYS has added another piece to its mobile payment arsenal.
The company, headquartered in downtown Columbus, said today it is acquiring Lehi, Utah-based ProPay, a company that offers payment services to businesses, including home-based entrepreneurs.
Financial terms of the deal were not released. However, TSYS said it is expected to close before the end of this year, pending any regulatory approvals. ProPay, already a TSYS customer, will then become a wholly owned subsidary of the Columbus company, keeping its offices in Utah.
ProPay, founded in 1997, has about 250,000 clients in the small and micro-merchant categories. Its services allow merchants to accept payments around the clock. A ProPay JAK device, known as a “dongle,” is attached to smartphones and tablets to ensure encrypted payment processing.
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The popular online merchant site, eBay, lists ProPay as an “accepted payment provider” on its website, along with PayPal, Skrill and Paymate.
TSYS, traditionally a processor of credit cards such as Visa and Mastercard, has said it plans to move aggressively in the burgeoning realm of mobile payments.