TSYS, which provides electronic payment processing and related services to financial and nonfinancial institutions, has announced that it will acquire Infonox, a privately owned California-based payments technology firm.
TSYS said that this acquisition will add new payment technology and acceptance capabilities to the company.
According to TSYS, Infonox will be known as Infonox, a TSYS company. Its plug-and-play platforms simplify the acceptance of payment forms to include, but not limited to: debit, credit, prepaid, money transfer and checks; it also offers new connectivity interfaces to multiple payment devices and new channels of service delivery such as mobile phones, ATMs and bill-pay kiosks.
Safwan Shah, president and CEO of Infonox, will remain with the company as president, reporting to Robert Philbin, president of TSYS Acquiring Solutions.
Philip Tomlinson, CEO of TSYS, said: TSYS’s acquisition of Infonox will add a Silicon-valley innovation team to our arsenal. It provides a host of tools and services that will be very attractive to clients of TSYS Acquiring Solutions and technologies we believe will add increased value to our clients across the TSYS enterprise.