Schaumburg, IL, November 18, 2008- Moneris Solutions, one of North America's largest payment processors, announced today that it has successfully closed on its acquisition of the assets of Humboldt Merchant Services, one of the largest independent bank owned payment processors. Humboldt Merchant Services was taken into receivership by the FDIC after its parent bank, the First National Bank of Arizona and Nevada, failed in June of this year. The two payment organizations are in the process of combining products and service platforms and will be driving both brands in the market place.
"This is a major milestone in the history of Moneris Solutions", said Greg Cohen, President, Moneris Solutions US. "Now that the acquisition has closed, we can focus on integrating the two companies and bringing a comprehensive solution to the market. We have a lot of work ahead of us, but ultimately both companies will come out bigger, better, stronger and more competitive."
Based in Eureka, CA, Humboldt Merchant Services was one of the US' largest bank owned merchant acquirers with over 18,000 merchants in its portfolio and processing nearly $2.5 billion in bankcard volume annually.
About Moneris Solutions:
Moneris Solutions, Inc. is part of one of North America's largest processors of credit and debit cards, ACH payments, electronic checks, e-commerce solutions and gift card programs. Moneris Solutions Corporation serves more than 350,000 North American merchant locations and has a staff of over 1,700 employees. Moneris Solutions US’ headquarters are located just outside of Chicago, IL. For more information about Moneris Solutions, please call 847.240.6600 or visit www.monerisusa.com.
About Humboldt Merchant Services:
Humboldt Merchant Services, LP is based in Eureka, CA and provides businesses throughout the United States with the highest quality credit card and payment processing solutions; Humboldt enables merchants to accept Visa, MasterCard, American Express, Diners Club, Discover, JCB, and numerous value-added services. For more information about Humboldt Merchant Services, please call 877.635.3570 or visit www.hbms.com.
For more information, please contact:
Terry Banike,
847-240-7553
terry.banike@moneris.com