Trust One, which was founded in April 2005, provides credit and debit card processing services to small- and mid-sized business merchants, primarily in the southeastern United States. The Company currently processes over $700 million in annual charge volume for approximately 2,800 merchants, and its merchant portfolio is diversified across a range of business sectors, with an emphasis on outsourced receivables management and e-commerce. Rob Cason, the founder and President of Trust One, and his team will continue to operate Trust One in Villa Rica, Georgia, which is west of Atlanta, as a wholly owned subsidiary of Charge Payment.
Cason commented, "Our decision to join Charge Payment reflects a unique opportunity to partner with its founder and CEO, Greg Daily, one of our industry’s most successful entrepreneurs, to create a new organization with a goal of becoming one of the industry’s leading merchant acquirers. Greg has previously co-founded and built two transaction processing companies, including taking both companies public.
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"As a result, we believe that joining Charge Payment as the company’s first acquisition transaction represents a great opportunity for Trust One and its employees and other stakeholders to position ourselves well for the future. With Charge Payment, we expect to have access to the capital, management expertise and business model required to drive long-term growth and profitability, benefiting our agent and agent bank partners and enhancing our innovative, high quality merchant services."
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