TermNet Buys ITS
TermNet Merchant Services, Inc., of Atlanta, Georgia, a leading
provider of payment processing services in the Southeast, announced
the acquisition of Integrated Transaction Services, Inc., (ITS) of
Albuquerque, New Mexico.
ITS (now called TermNet of New Mexico) is an MSP for Bank of
America with a customer base of 2,600 merchants. ITS provides credit
card authorization/capture, debit card authorization, electronic
benefits transfer (EBT), and check Verification/Collection services
through its own computer systems and direct links to MasterCard, New
Mexico EBT, Texas EBT, Pulse, and Deluxe. These merchants represent
more than $200 million in credit card volume, more than 1 million EBT
and debit transactions per month, and more than 1 million check
Verification transactions per month.
According to TermNet, prior to the acquisition it was the eighth
largest non-bank merchant acquirer in the U.S., handling more than $2
Billion in merchant credit card volume in 1996. Key Bank, Cleveland,
Ohio is the acquiring sponsor for TermNet. TermNet may be reached
at 770-612-2121.
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