FTS Acquires Card Present Division of Optimal Payments

Cleveland, OH

Financial Transaction Services, a full service provider of electronic transaction processing, today announced that it has acquired Optimal Payment Corps card present merchant processing division located in Bloomfield Hills, MI. This new wholly-owned subsidiary of FTS, will operate as FTS of Detroit. With over 3000 merchants as well as numerous agent bank programs, FTS of Detroit will administer exclusive merchant processing programs for Agent Banks, Hotel Associations as well as other large organizations.

“This partnership makes perfect sense for our clients and for our business as a whole. As part of FTS, we will be able to leverage better pricing, infrastructure, additional products and services and a world class management team that will help us deliver the kind of service our Fortune 100 clients have come to expect. Any time that you can combine two organizations with the same business ethics, integrity and business philosophies, you create a 1+1=3 scenario, and that is exactly what we have done here. I could not be more excited about the future for our clients and their programs. We are absolutely confident that we will deliver just that, now that we have the right partners with similar foundation and are just as committed to the long term service of our merchants, sales channels and their clients and back end processors and vendor partners,” said Laith Yaldoo, President of FTS of Detroit.

“FTS of Detroit provides FTS another strategic distribution channel with a proven track record in the medium to large business to business space.” said Jeff Shanahan, President of Financial Transaction Services. “The addition of Laith Yaldoo and his sales force provide FTS with an innovative sales program that focuses on obtaining quality merchants in the low risk and high volume retail space.” said CEO Brian Shanahan.

About Financial Transaction Services

Financial Transaction Services is a full service provider of electronic transaction processing services for Merchants, Independent Sales Organizations (ISOs) and Financial Institutions. Financial Transaction Services offers a comprehensive line of solutions for credit and debit cards, gift cards, electronic check conversion, verification and guarantee as well as terminal services and online Payment Gateway Solutions.