PLANO, TX, March 10, 2014 /PRNewswire/ – Pivotal Payments, a leading
provider of merchant services and global payment processing solutions,
announced today the acquisition of substantially all the assets of
Phoenix-based Capital Processing Network (CPN). CPN provides complete
merchant services and credit card processing to point-of-sale
businesses across the U.S. The agreement expands Pivotal Payments’
direct sales channels in strategic markets and adds significant
processing volume and cross-selling capabilities.

CPN services all of the United States with a sales network that spans
from Arizona to Wyoming. The importance of the acquisition will be
realized immediately as Pivotal Payments accelerates growth of its
direct sales force in 15 key markets while adding over $2 billion in
annual processing sales volume. The deal also delivers a stronger,
combined suite of payment technologies, providing additional value to a
larger base of merchants.

Newly acquired merchants will have access to leading edge payment
solutions proprietary to Pivotal Payments, including the GlobalOne
payment gateway and acquiring platform, FlexPoint™ EMV integrated
processing solutions, and the Pivotal360 merchant management and
reporting portal. While CPN’s staff will be assimilated into Pivotal
Payments’ corporate structure, CPN will maintain its own brand and
current headquarters.

“Pivotal Payments welcomes the over 100 employees of CPN, an
organization known for delivering the finest technology and payment
solutions,” said Philip Fayer, president and CEO of Pivotal Payments.
“We remain acquisitive and are actively exploring new opportunities
that will provide significant and meaningful growth in the US, Canada
and International markets.”

“We’re excited about this transaction and how well Pivotal Payments and
CPN align in terms of innovation and sales excellence,” said Jeff
Stephan, CEO of Capital Processing Network. “I am confident the
expanded services and combined expertise will greatly benefit all
employees and clients involved.”

About Pivotal Payments
Pivotal Payments is a leading provider of merchant services and global
payment processing solutions. The company provides to point of sale,
online and mobile merchants a variety of services such as debit and
credit card processing, electronic check conversion, merchant cash
advance programs, business discounts, loyalty/gift card programs and
terminal management solutions. Pivotal Payments offers these services
to small and mid-sized retail businesses, e-commerce, m-commerce and
other card not present merchants, chain stores, franchises, restaurants
and dealerships. Processing over US $10 billion in annual bankcard
sales volume, Pivotal Payments serves more than 60,000 customers. To
learn more, visit http://www.pivotalpayments.com

About CPN
Capital Processing Network is a merchant service provider with US based
service and support. The company offers a full range of services
including merchant credit card processing, credit card terminal leasing
and rental, TransArmor fraud prevention, and solutions such as gift
cards and virtual terminals. Capital Processing Network also offers
services such as check conversion, transaction reporting and
management, and long term account maintenance. For more information,
visit http://www.capitalprocessingnetwork.com.

SOURCE Pivotal Payments