Integrated payments firm Bluefin has purchased omnichannel payment solutions provider TECS Payment Systems for an undisclosed sum.
TECS Payment Systems primarily caters to the acquirers, payment service firms and point-of-sale (POS) system providers.
It facilitates cross-border card payments, fleet cards, account-driven payments and digital wallets that are processed through various channels, including in-person, mobile, unattended and e-commerce.
As part of the latest deal, TECS will be merged into Bluefin and continue to operate from its Austria-based locations.
TECS CEO and founder Fazlollah Rostamian will locally manage the firm.
This deal allows Bluefin to combine its solutions with TECS’ technologies to help meet the growing demand for safe omnichannel payments across the globe.
The merged entity will offer solutions to 34,000 merchants and approximately 300 partners in 55 countries worldwide.
In addition, Bluefin’s clients will receive omnichannel payments and smartPOS capabilities, which will be combined with the firm’s existing payments and data security set.
TECS customers will get new data security tools that address increasing requirements of larger institutions.
They will also receive fresh resource investment in the TECS product portfolio through the new deal.
Bluefin CEO John M. Perry said: “We are delighted to welcome TECS’ employees, customers and partners to Bluefin.
“This combination brings together two companies that focus relentlessly on meeting merchant needs for next-generation payment processing and management as well as the secure exchange of PHI and PII data with PCI-validated encryption and tokenisation.”
Bluefin currently offers encrypted and tokenised integrated payments via its point-to-point encryption (P2PE) solutions for point-of-sale (POS) payments, among others.
In September this year, Bluefin announced an alliance with commercial hardware manufacturer Sunmi, which provides SmartPOS devices.