Payment Data Systems, Inc., an integrated electronic payments solutions provider, today announced that it has engaged the services of The Strawhecker Group (TSG) of Omaha, Nebraska.
TSG is a management consulting company focused exclusively on the merchant acquiring sector of the payments industry. TSG specializes in providing financial institutions, acquirers, card associations, ISOs, processing companies and the investment community with advisory services to maximize their growth and profitability. TSG is also a resource of merchant acquiring industry research, benchmark studies and developing trends.
This leading consulting firm is composed of seasoned veterans of the payments industry. Both Partners and Associates of the firm have held key senior management positions at leading industry companies including First Data Corporation, ICVerify, CyberCash, Humboldt Merchant Services, RBS Lynk, Cardservice International, iPayment, ClearCommerce as well as other top financial institutions and ISOs. With an impressive client list of over 40 companies spanning all areas of the bankcard business, the TSG team has successfully consulted and guided leading organizations in all aspects of today’s highly competitive marketplace.
– Develop new revenue opportunities through effective Sales and Pricing Strategies.
– Manage large and complex Business Plan Development projects that require a high level of payments industry experience and industry knowledge.
– Assist acquirers to maximize the effectiveness of their Risk Management areas and help insure association Compliance.
– Assist acquirers in successfully constructing International Processing solutions.
– Manage the Project Management Office requirements for large and multifaceted projects.
– Assist both buyers and sellers in making strategic product and portfolio Mergers & Acquisitions and Asset Divestitures.
“We believe the time to aggressively begin active implementation of our planned strategy of pursuing accretive acquisitions is now,” says Michael Long, CEO of Payment Data Systems. “Our organic growth is well established and continues to gain significant strength quarter over quarter. We envision these acquisitions could take the form of profitable merchant processing portfolios, companies or assets of companies that provide positive cash flow and/or technology or business models and human resources that will mesh well with our long-term strategies. With our access to financial capital through our private equity partner and the agreement with the highly respected firm of The Strawhecker Group, we can now balance the scales of opportunity. Clearly this opportunity provides accelerated growth for Payment Data and serves to increase shareholder value and expanded capabilities to the industry.”
“The Strawhecker Group is very excited to work with Payment Data, especially with their focus on niche markets,” says Jamie Savant, Co-Founder/Partner of The Strawhecker Group. “We can provide true benefit to Michael Long and his team in terms of their seeking acquisitions that not only share Payment Data’s strategy but also support its successful business model and prove profitable.”
About Payment Data Systems, Inc.
Payment Data Systems, Inc. is an integrated provider of world class electronic payment solutions to merchants, billers, banks, service bureaus, and credit and stored-value card issuers. PDS specifically tailored solutions manage critical points along the full spectrum of the transactional chain, ranging from card issuance to payment acceptance to electronic bill payment.
Payment Data is the owner of the electronic bill payment portal, http://www.billx.com, which has the ability to transmit payments to thousands of national billers.
Payment Data holds the exclusive license to market the Natalie Gulbis Gift MasterCard (www.nataliegulbismastercard.com), the Carmen Electra Gift MasterCard (www.electragift.com) and the Carmen Electra Prepaid MasterCard (www.carmencard.com).
Payment Data Systems Inc. (OTCBB:PYDS) is a registered ISO/MSP of MetaBank and a registered ISO/MSP and TPS/TPP of Merrick Bank Corp., South Jordan, UT.
Payment Data is a Level One PCI compliant Third Party Servicer.
Payment Data’s intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit and stored value cards.
For additional information, visit the company website at www.paymentdata.com. For Investor Relations information, contact Michael Long at 210-249-4040 or email him at [email protected]
About The Strawhecker Group
Founded in 2004 by Kurt Strawhecker, The Strawhecker Group is a management consulting company focused exclusively on the merchant acquiring sector of the payments industry. The company specializes in providing financial institutions, acquirers, card associations, ISOs, processors and the investment community with advisory services to maximize growth and profitability. Headquartered in Omaha, Nebraska, this highly focused organization is composed of seasoned veterans of the payments industry. The partners and associates of TSG have held key senior management positions at leading organizations such as First Data Corp., ICVerify, CyberCash, ClearCommerce and a number of notable banks and ISOs. To learn more about The Strawhecker Group, please visit www.thestrawgroup.com.