CheckAlt Buys Item Processor ERAS
Image processor CheckAlt said Tuesday it purchased processor ERAS from the Ohio-based Diebold Inc.
ERAS, based in Miami, provides item and payment processing solutions to credit unions and community and regional banks.
CheckAlt will leverage its acquisition’s footprint, operations and technology to expand its own capabilities and growth opportunities, the company said.
"Regional and community financial institutions are wrestling with processing paper, electronic, mobile and e-commerce payments, especially with shifting volumes and tight resources," said Shai Stern, CheckAlt co-chairman and CEO.
“With the acquisition of ERAS, CheckAlt is able to meet the needs of the bank's internal operations unit as well the bank's merchant customers, all from a single vendor,” Stern said in the announcement.
ERAS is now a wholly owned division of CheckAlt, the announcement said. Purchase terms were not announced by CheckAlt or Diebold.