Credit union service organisation PSCU has wrapped up its acquisition of Juniper Payments, further expanding its portfolio of products, solutions and services.
Financial terms of the deal were not disclosed.
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PSCU acquired Juniper Payments from PITECO and two principal owners, who will remain with the company under PSCU.
Wichita-headquartered Juniper Payments provides cloud-based non-bank third-party inter-bank transaction and reporting systems in the US.
The firm’s transaction services offer key interfaces and automation to financial institutions by leveraging the company’s payment entry, transaction management and connectivity to the Federal Reserve and third-party providers.
The deal is expected to bolster PSCU’s value-added services for its financial institutions to facilitate additional payment types.
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By GlobalDataIt will also expand the organisation’s product suite with the addition of multi-tiered payments, including ACH processing and domestic and international wire remittance.
Juniper will also add a virtual back-office payments gateway, member and business-originated instant payments and reporting, compliance, risk management and monitoring services to PSCU.
PSCU CEO Chuck Fagan said: “This strategic expansion of our product suite aligns with PSCU’s commitment to broadening and diversifying our footprint in financial services, while furthering our financial institutions’ ability to deliver personalised, connected experiences for their account holders.”
Commenting on the deal, Juniper Payments CEO Jon Budd said that PSCU’s resources, as well as its portfolio of products, solutions and services, will provide added value for the firm’s clients.
Budd added: “We are excited to join PSCU, a company whose values and culture are aligned with our own. “PSCU will continue to invest in the Juniper business and technology, which I’m confident will further unlock Juniper’s potential to enable financial institutions of all sizes to be competitive in this evolving space.”
