Acquisition Of Paymerica By Yapstone

Recent reports revealed that the Yapstone, Inc has taken over the total assets of the privately owned Paymerica. It is the industry leader in electronic processing of the payment to the property management industry, LLC ('Paymerica'). It is an independent sales organization (ISO), which processes more than $1.2 billion every year. Paymerica was mainly dealing with credit & debit card processing & electronic check processing to different apartments, different rental properties & other real estate products handling. Yapstone got interested in this deal due to utility business nature. In the midst of falling volumes in business even for the big giants, Yapstone Inc is making stable feet in the high growth revenue segment due to this acquisition.

Mainly Paymerica consists of two different businesses. One being the ISO merchant segment and the other one is the providers of largest electronic payments for the utility industry. According to the sources from Yapstone this takeover has made them one of the prominent in the utility segment. They are planning to recruit new ISO & brokers to market Yapstone's technology platform and also to look after Yapstone’s SE sales processing services. According to the deal they will retain all the staff of Paymerica and its founders. Paymerica’s co-founder Charles Yancey commented that they are really happy to join the Yapstone team because their advanced technology can offers really good solution to their sale's group, which gives them upper hand, compared to other ISOs. Paymerica’s other co-founder David Bork added that Yapstone's recent growth stats & excellent leadership made them to think about this tie up.

Thomas Villante, Yapstone’s Chairman stated that, this tie up has cleared the road for Yapstone to expand its vertical market centric approach to the utilities market and increase the sales effort into the ISO market. According to Golis, Paymerica is an ISO for Nashville, which has its head quarters at Tenn and is an I-payment Inc. It says that Yapstone that is the nation’s largest merchant acquirer and it is providing service to Chase paymentech. But it does have its own merchant setup & does its own merchant underwriting. Commenting further Golis added that, those new merchants who will be booked through the Paymerica channel would be boarded through the Chase paymentech Channel. Yapstone commented that, Introduction of incentive interchange rates for recurring payment merchants by Master card Inc. will help to develop an under developed card market.

All the terms of the takeover between two private companies were not disclosed. Nevertheless according to the deal Paymerica’s co-founders, Charles Yancey and David Bork and most of its employees will also be on Yapstone payroll. Yapstone, Inc. (Parent company of Dues payment) is the industry leader in payment processor of the property management industry. All the community banks are able to process the credit & debit cards processing smoothly due to the Yapstone’s technological services. The one maid for dues payment, which is a culmination of 8 years & over quarter million lines of proprietary code, is the most robust and unified payment and reporting engine. This reporting engine is specifically designed to cater the special needs of the property management industry.

Total fraud losses in the domestic market have gone down by 32 % year-on-year according to the industry source card watch, but in overseas market it has increased to remarkable height by 114 %. Always watching & preserving your card & card details can prevent this. You should protect yourself by constantly updating yourself on the card balance to check that you are not a victim of frauds. And also proper disposal of the transaction slips & by not disclosing the PIN to any of the person (even if they persist on account of being from police or bank officials) can prevent you of being a victim of fraud.

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