First Data Acquires Electronic Payment Firm

Published April 10, 2002, 1:00 a.m. EDT

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Updated August 27, 2020, 3:17 a.m. EDT

1 Min Read

- DENVER (04/10/02) - First Data Corp. said Tuesdayit has acquired closely held Paymap, Inc., a San Francisco-basedprovider of electronic payment services aimed at so-calledunderserved markets, specifically mortgage payment services.Paymap's Equity Accelerator enables consumers to create customizedelectronic mortgage payment programs to achieve early payoff; whileits Just In Time electronic funds service provides an electronicsolution to last minute mortgage payments. The acquisition will befolded in to First Data's Western Union subsidiary, which willexpand Paymap's services into new segments of the payments market.Terms of the deal were not disclosed.

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