Dec. 27, 2012
TSYS, a provider of services in credit, debit, prepaid, mobile and chip, has completed its acquisition of ProPay. According to an announcement from TSYS, ProPay is now a wholly owned subsidiary within the company’s merchant services segment.
Prior to the TSYS acquisition, ProPay operated as a privately held company, offering payment solutions for organizations ranging from small, home-based business to multi-billion dollar enterprises.
Headquartered in Lehi, Utah, ProPay claims to have boarded 1.3 million merchants since its founding in 1997.
TSYS supports financial institutions, businesses and governments in more than 80 countries, according to a company news release, and is a member of the Fortune 1000. In March of this year, the company was named one of the 2012 World's Most Ethical Companies by Ethisphere magazine.
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