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Payment Gateway

IntelliPay provides payment processing (credit cards, debit cards and ACH check services) throughout North America. Can be relocated anywhere in US. Developed by four VISA software engineers. Software is robust, scalable and in compliance with VISA and MasterCard PCI data security standard. Connected to all major bank networks for authorization and data capture via secure connections. 1,500 mostly long-term customers. Sign-up, monthly and per transaction fees. 100% of revenue stream and all contracts are transferrable to acquirer. Processes 2.88 million transactions per year valued at $300 million. IntelliPay has no debt. 2008 financials: revenue $446,841; NIBT $251,185.

Why is it being sold? It is a non-core business of a publicly traded company. What is needed for the company to achieve its full potential? A managment team to market its services to large accounts and merchants, both directly and through resellers. What is its potential? A competitor, founded two years after this company, was purchased by Lightbridge, Burlington, MA in 2004 for $82 million and subsequently sold to CyberSource, Mountain View, CA in 2007 for $662 million.