First Data Corp. has completed its acquisition of BluePay Holdings Inc., a payment processor that has operated in the past as one of First Data's largest distribution partners in the U.S. and Canada.
BluePay, operated through TA Associates and BluePay management prior to the acquisition, focuses on software-enabled payments and card-not-present transactions.
First Data revealed last month that it was boosting its software vendor presence by acquiring BluePay. It only briefly left the payments industry scratching its head as First Data initially pulled its announcement of the deal, saying the company was only in discussions with BluePay at the time.
First Data says BluePay processes approximately $19 billion of annual sales volume for more than 77,000 merchants and is integrated into more than 450 software platforms. The company's software integration solutions complement those offered through First Data’s CardConnect business.
“The addition of BluePay’s integrated card-not-present solutions to CardConnect’s cutting-edge independent software vendor product suite affords First Data a unique and comprehensive offering in the high-growth integrated payments space,” First Data Chairman and CEO Frank Bisignano said in a Friday press release. “Importantly, this acquisition will also allow us to enhance our service offerings to our joint venture alliances and other distribution partners.”
BluePay CEO Bala Janakiraman will continue to lead BluePay operations, First Data said.