TALLAHASEE, Fla. – LEVERAGE Payment Solutions, a debit and credit card solutions owned by Affiliated Consolidated Service (ACS), the for-profit arm of the League of Southeastern Credit Unions & Affiliates (LSCU), said it has acquired a book of business from the U.K-based payments company Worldpay.
The transaction came about after Worldpay merged into a separate bank software and payment technology provider.
Prior to the merger, Worldpay provided payment technology to merchants, businesses and financial institutions – including credit unions – around the world. After the deal, LEVERAGE Payment Solutions acquired the credit portfolios of 64 credit unions across 10 states – Arkansas, California, Hawaii, Mississippi, Oklahoma, Texas, Virginia, Washington, Wisconsin and Wyoming.
LEVERAGE Payment Solutions said it has worked since February to swiftly and efficiently set up full-service processing for each of these new client credit unions.
“We’re elated to be able to offer our uniquely-tailored services to these credit unions,” said Lindsey Cole, vice president of LEVERAGE Payment Solutions.
Cole described the deal as exciting for LEVERAGE Payment Solutions, which has been able to expand its geographical reach and to share its services with credit unions it may not have had the opportunity to do business with otherwise.
“However, we know this will also be an immensely beneficial relationship for the credit unions involved,” Cole said. “With more than 25 years of experience in payment services tailored specifically for credit unions, no provider could be better equipped than LEVERAGE Payment Solutions to set these new clients up for success.”