Online Billing Industry Consolidates as InterCept Buys iBill, EPX for $160M

Share this content:
InterCept Inc., a provider of banking technology products and services for financial institutions, has agreed to buy the assets of Internet Billing Company Ltd., a Fort Lauderdale, FL, company also known as iBill that offers transaction processing for online merchants.

InterCept has also agreed to buy Electronic Payment Exchange Inc., a New Castle, DE, end-to-end provider of transaction processing services.

The purchases will mark Norcross, GA-based InterCept's major foray into merchant processing operations.

"Since 1996, we have provided merchant portfolio management services to community bank customers," John W. Collins, CEO of InterCept, said in a statement. "However, our role has been limited to serving as the middleman for our bank customer and the payment processing companies.

"The acquisitions of iBill and EPX," Collins said, "will enable InterCept to become a full-service provider of end-to-end credit card processing solutions for multiple sales channels --Internet, point of sale, call center, mail order and wireless channels."

IBill currently processes about $450 million in annual transaction volume and EPX about $5 billion. InterCept's merchant processing division offers services to 160 community banks, with $1 billion in annual transaction volume.

A spokeswoman said there will be no layoffs as a consequence of the acquisitions. In fact, the employee rolls might be expanded. Senior management will also keep their jobs.


Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above