Unified Payments, a subsidiary of Net Element, has entered into a multi-year processing agreement with Esquire Bank, a full service commercial bank in the US.
The deal includes marketing, transaction clearing, draft capture, settlement and payment networks Bank Identification Number (BIN) sponsorship.
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Unified Payments will provide mobile payments and multi-functional, technology-driven transactional services to Esquire Bank’s commercial clients.
Net Element CEO Oleg Firer said: "We are excited about our partnership with Esquire Bank on the heels of its entry into South Florida market. Under this agreement, Unified Payments will launch its direct merchant acquiring in the United States by leveraging BIN sponsorship through Esquire Bank."
Esquire Bank director of merchant services Fred Horn commented: "Our payments processing business model is to locate and accelerate innovators in the payments industry. Unified Payments fits our profile and, with its many business lines, represents multiple future opportunities. We are expecting a long and profitable relationship for both of our companies."
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