RealTime IT News

Dealmaking in the Online Payment Space

It's a busy time for dealmaking in the online bill payment space.

InterCept Inc. and the Emergent Financial Group got in on the M&A action Thursday, announcing separate deals for online bill payment platforms.

InterCept, headquartered in Norcross, GA, announced it would acquire transaction processing companies Internet Billing Co. Ltd. and Electronic Payment Exchange. Financial terms of the two transactions were not released.

InterCept, which markets e-commerce products and services geared towards financial institutions, said the two transactions would increase revenue by about $49 million to $52 million for the rest of this year.

Delaware-based Electronic Payment Exchange is styled as an end-to-end provider of transaction processing services while Internet Billing Company, Ltd., based in Florida, sells transaction processing for Web merchants.

The other big deal in the space saw data processing firm Emergent Financial Group acquiring the BizPay online payment transfer technology from Consygen.

Under terms of the purchase, Emergent would pay long-term royalties for use of the technology once the product is commercialized.

The BizPay technology allows consumers to send money to participating merchants or any other e-mail user in the world, including those using Web-enabled cell phones, pagers, and other handheld devices.

The software also enables small- to mid-sized businesses and home-based businesses to run e-commerce transaction without a traditional retail credit card merchant account. The technology also functions as a digital wallet service where consumers may store cash value in their virtual BizPay account.