News

Iron Triangle inks deal to buy BA Merchant ISO business

September 17, 2006

Digital Transactions: Iron Triangle Payment Systems LLC, a 3-year-old Louisville, Ky.-based processor that has been steadily pursuing plans to build an acquiring business by buying independent sales organizations, announced Sept. 15 that it is taking over the ISO business belonging to BA Merchant Services Inc. for an undisclosed sum. By adding the business, which supports some 140,000 merchant locations and accounts for 3 percent of BA's annual transaction volume, Iron Triangle will become the sixth-largest U.S. merchant processor. Along with the ISO business and its merchant contracts, the deal also includes the NPC brand name as well as Best Payment Solutions Inc., a subsidiary of BA Merchant Services that serves 20,000 merchants from offices in Chicago and Tampa, Fla.

BA Merchant Services, which serves 1 million merchant locations, controls 18 percent of the U.S. bank-card-acquiring market.

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