Small busineses who want to initiate online payment for their customers can set up a PayPal, Verisign (etc) or use a service provided by their accounting program. Sending paper invoices to customers is slow and inefficient. Why do this when you can do this faster using electronic payments?
Cnet writes Accounting software company Sage announced Tuesday that it will buy payments player Verus.
Sage’s acquisition of the company, which specializes in credit card and check payment processing, will cost it about $323.8 million in an all-cash deal.
Verus joins the Sage stable with more than 100,000 small- to medium-size customers (SMEs) in the U.S., including gas stations and car dealerships, and $24.6 million in assets. In the year ended Dec. 31, 2005, Verus made an operating profit of $21 million on revenue of around $63 million.
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