Telus sells Assure electronic payment processing business to CT-Payment, Inc

Canadian data, internet, voice and wireless services group, Telus Corp (TSX: T, NYSE: TU) has agreed to sell its Assure debit and credit card payment processing business to CT-Payment, Inc, a subsidiary of Central Tax, Inc.

The Assure business unit offers custom payment solutions, and supports transactions from all major credit cards.

CT-Payment stated that the acquisition would boost its transactional volume to in excess of 110 million annually.

“This acquisition is consistent with our strategy and makes us the largest third party payment processor with actual connections to all Canadian acquirers,” stated Denis Savard, CEO of CT-Payment.

TELUS and CT-Payment have also entered into a set of managed service agreements to ensure a “seamless transition for the application development, maintenance, support and client care functions.” The two companies have also agreed to work together to ensure the hosting, operations and management of the IT infrastructure maintain high quality services over the next five years.
 "Both CT-Payment and TELUS are committed to ensuring the integration is operationally seamless and transparent for our customers." said Keith Nugara, senior vice-president, TELUS Financial Services. http://www.proactiveinvestors.com/companies/news/3513/telus-sells-assure-electronic-payment-processing-business-to-ct-payment-inc-3513.html