Vesta Acquires Point and Pay

The combination diversifies Vesta's offerings to address electronic payments for utilities and government entities. Vesta brings the scale, fraud controls and industry leading security of Vesta's multi-billion dollar payment volumes to Point and Pay's high growth convenience payments business. Vesta's business proposition for serving its Fortune 500 clients globally includes compliance with all of the payment card industry's stringent security requirements for accepting electronic payments -- a feature which will be extended to Point and Pay's clients.

"We have long sought the right set of assets to enter the convenience payment space. Point and Pay has the agility, platform flexibility and expertise we have been looking for," said Vesta's CEO Doug Fieldhouse. "With Vesta's expertise in payments and security, Point and Pay will be freed up to develop and deploy innovative applications and focus its efforts on improving services for existing clients as well as attracting new clients."

Point and Pay counts over 60 counties and municipalities as clients in the Southeastern USA and, with Vesta, will work to expand the service over the next year. Of the partnership, Point and Pay Founder Gary Francis said, "We could not ask for a better partner to accelerate our expansion plans. Vesta's blue-chip client list brings us the credibility we need to compete in a dynamic marketplace."