Metavante Acquires Government PaymentsProcessor
MILWAUKEE - (10/04/05) -- Metavante Corp., said Monday it hasagreed to purchase Link2Gov Corp., a processor of billions ofdollars in credit and debit card payments to local, state andfederal government agencies. The deal will allow Metavante for thefirst time to handle consumer payments for government services.Link2Gov, based in Nashville, Tenn., operates the Web sitePay1040.com, which allows Visa, MasterCard, Discover and AmericanExpress cardholders to pay their federal income taxes. In additionto processing card payments online, Link2Gov processes payments atthe point of sale and over the telephone. Metavante also foreseesgrowth in consumer card payments to state and local governments forsuch services as permits and fishing and driver's licenses. Thepurchase of Link2Gov will also expand Metavante's smallmerchant-acquiring business by bringing government agencies intothe fold. Metavante provides merchant processing for 36,000companies nationwide. Terms of the deal were not disclosed.Metavante is a wholly owned unit of bank holding company Marshall& Ilsley Corp.