Purchase of Slough-based Card Processing Solutions sees XLN now able to offer these services to SME customers
London-based telecoms provider XLN has acquired Card Processing Solutions (CPS), a provider of card processing services to small businesses in the UK, for an undisclosed sum.
CPS provides low cost card payment terminals and payment solutions to SMEs who need to process credit and debit card transactions, from within the retail, hotel, restaurant and online merchant industries.
CPS managing director Michael Ault will continue in his role at the company, which becomes part of the XLN Group.
According to XLN founder and Group CEO Christian Nellemann (pictured), a significant number of its 125,000 SME customers currently use card processing services connected via fixed lines, with a growing proportion using GPRS connected terminals.
“CPS is a great company doing a great job and has thousands of loyal customers. It is an excellent fit with our customer base and a natural extension of our business model as we continue to develop a rich set of business services.”
Ault added: “It is an exciting time to be joining with XLN. As part of this company we will be able to deliver substantial growth, a one-stop-shop for the customer and a great return to the investors.”