June 28, 2010

Jack Henry & Associates, Inc. (Monett, Mo.), is rebranding Pemco Technologies, which it acquired in October 2009, as JHA Payment Processing Solutions. The unit will operate as a division of Jack Henry & Associates.

JHA Payment Processing Solutions will continue Pemco Technologies’ history of operating as a provider of payment processing solutions, client care and service. According to Jack Henry & Associates, the products and services added through the acquisition strategically complement its ATM and debit card solutions with proven credit and prepaid card solutions, and positions the company to support financial institutions with a broader array of payment-related solutions. “This acquisition supports our goal to provide our clients and prospects with a more complete product offering that includes ATM, debit, credit, and prepaid card solutions and generates more opportunities to increase our presence and potential in the growing payments industry,” said Terry McMullen, general manager of E-Services, Jack Henry & Associates, in a press release. “We are also excited about the opportunity to begin selling select JHA Payment Processing Solutions products, which have historically been available exclusively for credit unions, to banks. Initially we will be offering our prepaid cards and debit and credit awards solutions to the bank market.”

ABOUT THE AUTHOR
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & ...