PMT Takes a Bite of the Check Verification Pie
While this is starting to look like a special issue on Check Verification, it is simply the result of the recent events in the marketplace.
PMT of Brentwood, Tennessee announced the signing of a letter of intent for PMT to acquire CVE Corporation, a provider of Check Verification and electronic credit card processing services. The acquisition is expected to be completed by the end of April 1997, according to a March 26 PMT press release.
In a recent personal interview with Rich Roberts, CEO of PMT, Rich reported, "We believe there is a substantial opportunity to cross-sell check services to PMT's existing portfolio of credit card processing merchants and to the new merchants PMT will sign in the coming year. Although we currently offer a check product to less than 2% of PMT's portfolio, the systems and expertise we gain through this acquisition will permit us to pursue this business aggressively."
PMT Services Inc. can be reached at 615-254-1539.
