Clearent has completed its acquisition of Payment Alliance International’s (PAI) Merchant Services Division. The acquisition adds support and operations resources, a complementary telesales channel, strategic association partnerships, and increases Clearent’s processing volume by 40%.
PAI’s Merchant Services Division is a provider of payment processing solutions for businesses, Independent Sales Organizations (ISOs), agents and associations, and has previously been recognized as the “Independent Sales Organization (ISO) of the Year” by the Electronic Transactions Association (ETA).
Clearent will begin servicing PAI merchants and other business partners immediately. Merchants can continue to process transactions as they always have. They can also reach customer support the same way they always have by calling 866.371.2273.
Clearent now has more than 300 employees, 45,000 merchants, and $14 billion in processing volume. Its office locations now include West Palm Beach, Florida and Louisville, Kentucky in addition to its headquarter office in St. Louis, Missouri.
Payment Alliance International (PAI) is the nation’s largest, privately-held provider of ATMs, offering processing and maintenance services, equipment sales and support, customized partner programs, and unique ATM branding opportunities. Payment Alliance International is based in Louisville, Kentucky. Golding & Company served as financial advisor to PAI on the transaction.
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