TSYS Announces Agreement to Acquire ProPay

TSYS announced that it has signed an agreement to acquire ProPay, a Lehi, Utah-based company, that currently processes for approximately 250,000 small and micro-merchants, with a strong footprint among Direct Selling Entities (DSEs). It offers merchants self-enrollment, instant activation and simplified pricing.

“The acquisition of ProPay is another step in our long stated goal of becoming a top 10 global acquirer that delivers innovative products,” said Philip W. Tomlinson, chairman of the board and chief executive officer, TSYS. “The move positions TSYS to capitalize on the explosive growth of mobile and more effectively compete in the small and micro-merchant segment.”