National Bankcard Association Inc. said it has gotten $5 million in equity financing from JMI Equity Fund of Houston and Geocapital Partners of Fort Lee, N.J.

The money will allow National Bankcard to continue "acquisitions of merchant portfolios and sales organizations and beef up the infrastructure," said president Mark Leibowitz.

National Bankcard has acquired two independent sales organizations - Electronic Processing Inc., Tampa, and Electronic Access Inc., Austin, Tex. - in the last 18 months.

National Bankcard processes credit card transactions for retailers and is a wholesaler for point of sale terminals.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.