Viewpointe, a US-based managed service and payments provider, has signed a deal with Western Payments Alliance (WesPay) to sell its Regional Payments Association (RPA) assets.
Terms of the transaction were not disclosed.
RPA business provides information on payments topics and certification preparation for payments professionals; ACH audit and compliance services for financial institutions, payments processors and businesses. It also offers member advocacy and input into the ACH rules-making process as a voting member of NACHA, the Electronic Payments Association.
Both the parties working to complete the transaction by the end of 2013.
Following the completion of the deal, WesPay will retain full ownership of the assets and the combines entity will operate as WesPay.
The combined operation will provide services to 25% of the nation’s population covering 12 Western and Mountain states and Pacific territories.
Viewpointe chairman and CEO, Lou Buglioli, said that this transaction delivers on Viewpointe’s intended business objectives, enabling it to focus on core businesses including information governance platform, OnPointe, and payments services.
"As a strong company with deep expertise in delivering services to the regulated industries, this agreement allows us to deliver best-in-class solutions to our valued customers, while the merged RPAs can offer more depth of resources to its members," Buglioli added.
WesPay is a membership association promoting the best use of electronic payments.