SmartCard Marketing Systems, a provider of contactless payment and incentive solutions, has agreed to acquire CT Payments, an independent processor for debit and credit EMV transactions in Canada, to form an agnostic payment company.
The new company will target Asian markets with growth being driven by issuer & acquirer banks & telecom clients, who need EMV Payment solutions with multiple card network acceptance processing for their retail and enterprise merchants.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
SmartCard said that the company will benefit from development and technical expertise of CT Payments resulting in a card-present & card not present product offering to create an EMV Host solution.
Also, SmartCard has appointed two independent firms in California to prepare and distribute the offering.
The deal allows the company to expand in to the EMV deployment market globally with technology platform managed by an expert IT team and payment solution specialists.
As part of the acquisition, CT’s senior executives will join SmartCard to finance and expand operations, while the current senior management team will focus on global market sales and corporate development.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSmartCard CEO Massimo Barone said: "We are very excited with this opportunity and have been working thoroughly with CT’s team to meet the challenges and constraints of Banks & Telecoms to deploy EMV Payment solutions to enable their portfolio of existing and new merchants.
"Strategic opportunity to not only acquire CT Payments but jointly expand in overseas markets offering a Turn-Key "EMV HOST" for credit & debit card schemes that will facilitate Omni-Channel solutions for retail deployments, Independent Software Vendors allowing them to scale integration and allow large deployments through Enterprise partners expanding our footprint through Independent Sales Organizations."
CT-Payment CEO Denis Robert said: "This merger will enable CT-Payment to accelerate its product development cycle and bring innovative payment solutions to the North American market while simultaneously providing access to the necessary funding to support the implementation of its technology and expertise to promising new geographies such as Asia Pacific."
Pursuant to the transaction, CT-Payment and VelocityMwallet Technology will retain their operations under the new structured ownership as subsidiaries.
