Greensheet
Bluefin, the recognized integrated payments leader in PCI-validated encryption and tokenization technologies that protect payments and sensitive data, today announced the acquisition of TECS Payment Systems, a global provider of omnichannel payment solutions to acquirers, payment service providers, and POS system providers.
Consumer demand for omnichannel payment options has grown at an astounding rate. According to Insider Intelligence, e-commerce sales are expected to reach $6.169 trillion in 2023, up from $3.351 trillion in 2019, while mobile payments are projected to grow from $1.97 trillion in 2021 to $11.83 trillion in 2028, reports Fortune Business Insights. Merchants require payment acceptance and processing technologies – whether in-person contactless, digital wallet, mobile or online—that ensure data privacy and security.
Together, Bluefin and TECS will serve 34,000 connected merchants and nearly 300 global partners in 55 countries. The strategic combination expands the global footprint of both organizations. Bluefin and its customers gain omnichannel payments and smartPOS capabilities that will integrate with the company’s existing payments and data security suite. TECS and its customers will benefit from the addition of data security solutions that address growing needs of larger organizations, as well as additional resource investment in the innovative TECS product and solution suite.
“We are delighted to welcome TECS’ employees, customers and partners to Bluefin,” said John M. Perry, CEO, Bluefin. “This combination brings together two companies that focus relentlessly on meeting merchant needs for next-generation payment processing and management as well as the secure exchange of PHI and PII data with PCI-validated encryption and tokenization.”