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Table of Contents

Lead Story

The FTC nabs MPI: A cautionary tale for ISOs

News

Industry Update

Visa's changes muddy interchange waters

Cynergy finds synergy in Abanco gateway

Visa may publish list of registered ISOs

Features

AgenTalkSM:
Bart Kohler

Deterring ATM ram raids

Tracy Kitten
ATMmarketplace.com

Views

Forging ahead with PCI PED

Bulent Ozayaz
VeriFone

Education

Street SmartsSM:
The POS system buzz

Dee Karawadra
Impact PaySystem

PCI priority: No agent left behind

Michael Petitti
AmbironTrustWave

All-star processing – Part II: Retaining your MVPs

Marcelo Paladini
Cynergy Data

Card Association rules to work by – Part II

David H. Press
Integrity Bankcard Consultants Inc.

Steer clear of sales pitfalls

J. David Siembieda
CrossCheck Inc.

E-wallets: Worth the risk?

Theodore F. Monroe et al.
Attorneys at Law

Company Profile

Amacai Information Corp.

New Products

Holy grail in a Bluetooth card reader

MagneSafe P55 card reader
MagTek Inc.

Kiosk revs up fast food delivery

iOrder food service kiosk
VeriFone

Inspiration

Prepare for the worst, plan for the best

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

May 14, 2007  •  Issue 07:05:01

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Cynergy finds synergy in Abanco gateway

Cynergy Data got a 30% boost to its portfolio by buying a 15,000-merchant portfolio from Abanco International. The purchase was completed in late April and included Abanco's payment gateway.

The transaction did not include Abanco's Mobile Data Technology products and services. That company plans to continue marketing its payment processing application used by several airlines and railways, according to Abanco.

However, Cynergy Data characterized its acquisition of certain Abanco assets as positioning the company to integrate direct-to-merchant proprietary platforms.

Abanco's proprietary front-end gateway system allows the company to customize merchant product solutions with faster authorization response.

Combining the Abanco gateway with the Vimas business management software, Cynergy intends to vertically market products and services - such as petroleum, in-house gift and loyalty cards, signature capture, multilane programs, and recurring payments - to its ISOs.

A merchant-sticky strategy

"We felt that Abanco had the right combination of assets, including a direct-to-merchant sales structure, healthy merchant account portfolio and unique value-added product offerings," Cynergy President and Chief Executive Officer Marcelo Paladini said in a statement released by the company.

"Acquiring Abanco enables Cynergy Data to set strategies into action, as we tackle a key must-win battle that calls for Cynergy Data to become more ingrained in our merchant customers' business - with new service offerings, referral partner products and timely solutions," he added.

Sam Buchbinder, former Chairman and CEO of Abanco, stated, "Our merchants benefit as the Cynergy Data management team leverages the strengths of two well-respected organizations to provide the most advanced products and services in this dynamic and growing business."

Cynergy Data now services a portfolio of 65,000 merchant accounts and will process $8 billion annually. Cynergy estimates it is one of the 20 largest privately owned merchant acquirers in the United States.

Cynergy reported that several components of Abanco's merchant services operation and related management organization will be integrated into Cynergy. Abanco is headquartered in Rosemont, Ill.

A telemarketing sales office in Sarasota, Fla., will continue to serve as a sales execution center under Cynergy management.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems