Melville, NY (PRWEB) November 11, 2009
Capital Payments announced today that it has acquired both Applied Merchant Systems and PayQuake (combined: “AMS”) from its founders and shareholders. Based in Chicago, IL. AMS is an electronic payments services company specializing in credit card and check processing, and other payment related services for small and medium-sized businesses, corporate merchants, ecommerce merchants, and trade associations.
Headquartered in Melville, NY, Capital Payments, LLC has built a unique distribution model working with Trusted Advisors such as CPAs and Attorneys. Capital Payments was founded by industry veterans who understand the challenges faced by businesses and bring decades of experience in delivering leading-edge payment processing solutions and financial services to serve the ever evolving needs of U.S. based businesses.
The acquisition of AMS supports Capital Payments’ core strategy to grow through both strategic acquisition and strong organic growth. AMS services over 12,000 merchants throughout the United States and will extend Capital Payments’ platform as the leading national provider of payment solutions to the Trusted Advisor community and their small business clients who rely on their advisory services.
“We are excited to add AMS and PayQuake to the Capital Payments’ family”, states Todd S. Whiton, President and CEO of Capital Payments. “The AMS business has been built by partnering its considerable technology resources, including a comprehensive end-to-end merchant boarding and reporting system, with industry specific client and practice management software developers, offering their clients a robust and fully integrated payment solution. AMS’ management team and its employees fully share our superior service philosophy and we look forward to continuing our strong and profitable growth as a combined company”.
Capital Payments will maintain AMS’ operations and sales offices in Chicago and will remain headquartered in Melville, New York.