Once the transaction is finalised, TECS will be integrated into the Bluefin, and the two companies will jointly serve 34,000 connected merchants and nearly 300 global partners across 55 countries
Bluefin to acquire TECS Payment Systems. (Credit: Patrick Tomasso on Unsplash)
US-based payment and data security company Bluefin is set to acquire payments platform-as-a-service (PAAS) provider TECS Payment Systems, for an undisclosed sum.
TECS is specialised in providing omnichannel payment solutions to acquirers and payment service providers based on an open cloud-based payments platform.
Its payments platform is integrated with more than 100 technology partners, acquirers, processors, and payment providers in 17 countries worldwide.
Also, the platform supports global card payments, fleet cards, account-based payments and digital wallets processed through in-person, mobile, unattended and e-commerce channels.
Once the transaction is finalised, TECS will be integrated into the Bluefin and continue its operations in Austria. It will be led by TECS CEO and founder Fazlollah Rostamian.
The combination will enable the two companies jointly serve 34,000 connected merchants and nearly 300 global partners in 55 countries.
Bluefin CEO John M Perry said: “This combination brings together two companies that focus relentlessly on meeting merchant needs for next-generation payment processing and management as well as the secure exchange of PHI and PII data with PCI-validated encryption and tokenization.”
Bluefin provides integrated payment solutions with Payment Card Industry (PCI) validated encryption and tokenisation technologies that safeguards payments and sensitive data.
In addition to payments solutions, the company’s product suit also includes data solutions in healthcare, education, government, and non-profit industries.
The acquisition will enable Bluefin and its customers to benefit from omnichannel payments and smartPOS capabilities, integrating its existing payments and data security suite.
Also, the business combination will allow TECS and its customers to add data security solutions, along with additional resource investment in its product and solution suite.
TECS founder and CEO Fazlollah Rostamian said: “There were natural synergies between the TECS and Bluefin solutions and teams.
“We are excited about what the strength of our combined resources will mean for our customers, and the many ways we can help businesses provide the payment experience that their customers demand.”