Contact Information: Lauren Shankman Trevelino/Keller Communication Group 404-214-0722 x110
AMI Merchant Solutions Sells Processing Portfolio to Payment Alliance International
| Source: AdvanceMe, Inc.
ATLANTA, GA--(Marketwire - December 5, 2007) - AMI Merchant Solutions (AMS) announces today
the sale of its credit and debit processing portfolio to Payment Alliance
International, Inc. (PAI), with the immediate transfer of existing
customers to the PAI processing network.
"The sale of AMS' processing portfolio helps us focus resources on our core
business: providing funding to small businesses through AdvanceMe, Inc. as
well as its processing and sales partners," explains Glenn Goldman, chief
executive officer of Capital Access Network, parent company of AMS. He
continues, "AMS was created to expedite funding requests from our
customers. Over the past year we've entered into arrangements with several
outstanding processing partners that can handle the needs of our merchants
going forward."
With the acquisition, AMS customers will gain access to PAI's variety of
payment acceptance products including credit and debit card processing,
check acceptance, gift and loyalty programs, Check 21 services and a full
range of ATM processing programs.
In addition to the service enhancements available to merchants, PAI offers
a 24-hour Web-accessible merchant site. From this site, merchants can
obtain detailed deposit information, statements, chargebacks and many more
features. PAI customers will also benefit from extended weekday and
Saturday telephone support hours.
Through an existing agreement with AdvanceMe, Inc., PAI will continue to
facilitate, without interruption, Merchant Cash Advance payments to
AdvanceMe on behalf of transferred AMS customers. Existing and new PAI
customers will also be able to apply for a Merchant Cash Advance powered by
AdvanceMe.
"We're excited to welcome AMS' merchants to our organization, and believe
our broad base of services will afford these customers new opportunities to
expand the ways in which they are served," said John J. Leehy III,
president and chief executive officer of PAI.
About PAI
Payment Alliance International (PAI) is a leader in the payment processing
industry offering credit card, check, ATM network management, cash
management and business information services. Through its client centered
approach to payments, PAI has become one of the fastest growing companies
in America. PAI is based in Louisville, Kentucky. For more information,
please visit www.PaymentAllianceINTL.com.