ATLANTA, Feb. 8, 2017 /PRNewswire-USNewswire/ -- Realtime Electronic Payments (REPAY), a full-service provider of advanced payment technology products and electronic transaction processing services for the consumer lending industry, has acquired Sigma Payment Solutions, which offers related services in the auto finance space. Both companies will continue growing in their respective industries, now with shared technology, resources and relationships.
"REPAY had already planned to expand into auto finance, so Sigma's established footprint and well-respected leadership in that space made this an attractive acquisition for us," said John Morris, CEO of REPAY.
"We are also thrilled to welcome Susan Perlmutter to our team. She is highly regarded in the industry and has negotiated numerous beneficial Dealer Management System integrations for Sigma, with more on the horizon," Morris said. "We're excited to join forces to offer an even higher level of service to our consumer finance and auto finance customers."
Susan Perlmutter, now Chief Revenue Officer for both REPAY and Sigma, said, "This acquisition brings greater resources to Sigma, as well as broader and deeper underwriting capabilities. It could not be a more perfect union, as each company fills a gap for the other."
Perlmutter said Sigma's clients have already begun to experience the benefits of the acquisition in the form of more competitive pricing. "REPAY has a direct relationship with TSYS and with REPAY's processing partners. As a result, Sigma can now offer more customized solutions and better pricing to our customers," she said.
Both REPAY and Sigma will continue to invest heavily in new technology to automate consumer payments 24 hours a day, seven days a week. Morris added, "We are also working hard to increase the pace by which we can integrate with loan management and dealer management systems. We believe a customer's choice to work with REPAY or Sigma should be an easy one, because we offer true plug-and-play functionality.
Sigma will continue all its current integrations with the industry's top DMS platforms. Customers will experience no change to their Sigma service, except for more competitive pricing.
About Sigma Payment Solutions
Sigma Payment Solutions offers integrated, full-service, automated payment solutions to businesses nationwide. Payment channel offerings include SMS text pay, virtual terminals, mobile payment technology, Interactive Voice Response (IVR), payment kiosks and Web payment portals. Sigma also provides processing support for all major credit and debit card transactions, as well as ACH processing, Web payments, telephone checks, and more. Learn more at www.sigmapayments.com.
About REPAY
Established in 2006, Realtime Electronic Payments (REPAY) is a full-service provider of electronic transaction processing services for the consumer lending industry, offering a suite of advanced payment technology products that include credit and debit cards, ACH processing, consumer-facing payment portals, bank account verification and electronic bill payment. For more information, visit www.repayonline.com.
Visit the full press release here.