USB NBA FYI

Time to update the Rolodex! On March 23, Universal Savings Bank (USB) entered into an agreement to acquire National Bankcard Association (NBA) together with its wholly owned subsidiary Electronic Processing, Inc. The companies will blend NBA’s sales, telemarketing, and marketing functions with USB’s processing platforms.

Universal was founded seven years ago and has since grown from zero to more than 40,000 merchants. This acquisition comes approximately a year after Universal acquired the assets of Banctec Payment Systems (BPS) in St. Petersburg, Florida. That acquisition completed Universal’s vertical integration strategy, which enabled Universal to act as a processor in addition to their current merchant direct business.

In the past two years Universal has developed several value-added products for the marketplace including:

Total Check Combines electronic check conversion with guarantee optional on a check-by-check basis

Universal Connect Pre-paid long distance product which eliminates the card by using the credit card terminal to generate the “card” information

Universal Electronic Gift Card An electronic gift certificate

Virtual Terminal Delivers Internet commerce in a down-to-earth, easy to use format

Universal Passage Provides age verification by reading the magnetic stripe on driver’s licenses and state ID cards

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