Cayan Announces Acquisition of Card Payment Services
BOSTON, MA–(Marketwired – May 10, 2017) – Cayan, a payment technology company, today announced it has acquired Card Payment Services (CPS), LLC., a Dallas, TX-based payments processing company specializing in the $75b waste removal vertical. CPS serves businesses throughout the country and processes in excess of $700 million in Visa and MasterCard transactions annually. In addition to waste haulers, CPS serves municipalities, waste equipment providers, transfer stations and other players within the waste space. Terms of the deal were not disclosed.
The waste removal market is a significant new vertical industry for Cayan, one that strategically complements the company’s strengths. Waste haulers of all sizes are rapidly shifting to accepting payments by credit card and need secure and cost-effective payments processing technology and support. Through the acquisition, Cayan attains CPS’ 18 years of market expertise, waste management software integrations, exclusive partnerships with key ISVs, its customer base of major waste removal companies, and its leadership including Andrew Caine.
“We’re thrilled to welcome CPS into the Cayan family,” said Cayan CFO, Chris Menard. “The waste removal market is an industry with plenty of untapped opportunity and one we’ve had our eye on for a while as part of our M&A strategy. The synergies between CPS and us make this acquisition a natural fit.”
“Cayan has clear strengths in technology and support as well as a proven track record in niche vertical markets, such as home heating,” said Andrew Caine of CPS. “This, combined with CPS’ deep market expertise and our experience securing utility rate savings for waste hauling customers, will surely pave the way for growth.”
Cayan® is a technology company focused on transformative innovations in payments. From simple and reliable payment processing, to fully integrated, multichannel customer engagement platforms, Cayan is continuously developing new ways to unlock the power of payments. Cayan’s platforms include their Cayan® Unified Commerce Solution Suite™ and Genius® Platform — both are secure and scalable platforms that are fully configurable, tailored to a business’s unique needs and easy to implement. Headquartered in Boston, the company has multiple offices in the United States and Belfast, Northern Ireland. Cayan is one of the world’s fastest growing payment companies. For more information, visit www.cayan.com.
Cathy Corwin for Cayan