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Trust One Payment Services, Inc. today announced that it has been purchased by Charge Payment, LLC, a newly formed company based in Nashville, TN. Trust One, which was founded in April 2005, provides credit and debit card processing services to small- and mid-sized business merchants, primarily in the southeastern United States. The Company currently processes over $700 million in annual charge volume for approximately 2,800 merchants, and its merchant portfolio is diversified across a range of business sectors, with an emphasis on outsourced receivables management and e-commerce. Rob Cason, the founder and President of Trust One, and his team will continue to operate Trust One in Villa Rica, GA, which is west of Atlanta, as a wholly owned subsidiary of Charge Payment.
Cason commented, “Our decision to join Charge Payment reflects a unique opportunity to partner with its founder and CEO, Greg Daily, one of our industry’s most successful entrepreneurs, to create a new organization with a goal of becoming one of the industry’s leading merchant acquirers. Greg has previously co-founded and built two transaction processing companies, including taking both companies public.
“As a result, we believe that joining Charge Payment as the company’s first acquisition transaction represents a great opportunity for Trust One and its employees and other stakeholders to position ourselves well for the future. With Charge Payment, we expect to have access to the capital, management expertise and business model required to drive long-term growth and profitability, benefiting our agent and agent bank partners and enhancing our innovative, high quality merchant services.”
About Trust One Payment Services, Inc.
Trust One Payment Services was founded in 2005, and our management team has been providing credit card processing services since 1989. Through our network of agents and agent banks, we specialize in offering innovative card processing solutions and ATM programs to merchants nationwide. Trust One has access to most major processors and provides electronic authorizations with data capture of all major credit cards. Our goal is to improve profitability through cooperative efforts. Trust One currently serves a portfolio of approximately 2,800 merchants with over $700 million in annual sales volume. For more information about Trust One Payment Services, visit www.trustonepaymentservices.com.
About Charge Payment, LLC
Based in Nashville, Tennessee, Charge Payment, LLC is a credit and debit card transaction processing company focused on providing processing services to merchants throughout the U.S. The company was formed to complete the acquisition of the assets of Trust One Payment Services, Inc. Charge Payment intends to make additional acquisitions with a goal of building the company into an industry leading merchant acquirer.