Vantiv to Acquire Moneris

ETA member company Vantiv has announced that it will acquire Moneris USA, also an ETA member company.

In the press release on the acquisition, Angela Brown, President and CEO of Moneris and 2015 winner of the ETA Distinguished Payments Professional Award said, “The acquisition will enable Moneris USA to continue its successful path and provide merchants the high-level of service they’ve come to expect while leveraging Vantiv’s scale and omni-channel payments capabilities. Working together with Vantiv, Moneris will continue to support our mutual cross-border customers with a focus on innovation and service.”

Charles Drucker, President and CEO of Vantiv said, “Acquiring Moneris USA will further accelerate Vantiv’s growth in key high-growth channels. We look forward to serving their technology and bank partners with our deep payments expertise and strong customer service.”

Vantiv is among the largest payment processors in the U.S., with over 800,000 merchant locations and 1,400 financial institutions, and will gain further market share through acquiring Moneris, which processed roughly $12 billion in transactions last year. The $425 million deal is expected to close during this year’s fourth quarter.

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