ePayments Corp. Acquires ACH Technologies

ePayments Corp., an electronic payments processing and support services company, said it has acquired ACH Technologies Inc. of Hastings, Minn.

Under the acquisition terms, ePayments will assume control of and manage the company’s check recovery accounts from Denver. The move also allows ePayments to offer additional services to the newly acquired accounts, such as credit card processing and electronic check conversion.

"This represents the continuation of our aggressive and successful growth-through-acquisition strategy," said ePayments CEO Paul Lufkin. "In addition to offering other payment solutions to this new client base, we’ll be introducing them to our innovative HyperCustomer Service strategies."

Lufkin said his ePayments Group of companies, including the Professional Services division and Educational Financial Services division, are committed to providing more efficient and less costly third-party processing of represented check collection (RCK) using the ACH Network and ePayments’ iSmart check processing technologies and HyperCustomer Service Center.

ACH Network volume, Lufkin said, continues on a strong growth path. More than 3.7 billion transactions worth more than $7.5 trillion were conducted during the first quarter of 2008, representing growth rates of 8.3% and 6.6%, respectively, over the same quarter of 2007, according to NACHA, the Electronic Clearinghouse Association.

Found in 1984, ACH Technologies Inc. is a privately held company that has focused on cost-reducing services for the convenience store and retail gasoline segments.

ePayments specializes in working with companies, schools, non-profits and government organizations of all sizes that handle payments in the form of check and credit card transactions. Since U.S. banking system rules were changed to allow businesses to use the Automated Clearing House network (ACH) and Check 21 methodologies to electronically process checks from customers, a new industry of providers has emerged to support businesses with electronic check conversion, electronic NSF collection and related compliance services.

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