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By Jon Frankel, Certified Merchant Services

Certified Merchant Services, Inc. (CMS), a leader in the small- to medium- size merchant acquiring industry since 1991, is in discussions with the investment banking community regarding the financing of approximately $50 million in capital to begin portfolio acquisitions.

CMS is expected to add approximately 25,000 new credit card merchant accounts and an additional 10,000 check conversion/guarantee accounts through its normal course of business in 2001. The proposed $50 million will be invested solely for new credit card and check conversion/guarantee portfolios.

CMS is the sole owner of Electrocheck, which was established in June 2000 to handle check conversion and/or check guarantee. Electrocheck's software was designed from start to finish by CMS, and the day-to-day process is handled entirely in house by CMS. Before Electrocheck was established, CMS and CrossCheck began a partnership for check guarantee that to this day is one of the most profitable check partnerships in CrossCheck's history.

CMS has been a full-fledged merchant processor since 1999 because front-end and back-end functions such as underwriting for new merchant account approvals, data entry for same-day merchant numbers, customer service and technical support all have been brought in house.

In January 2001, CMS moved into its newly built corporate headquarters, with more than 40,000 square feet of useable workspace, which more than doubles its previous headquarters and accommodates current and expected growth. With 300 employees and revenues doubling each year, CMS is going to the next level.

If you have any interest regarding a sale of credit card or check portfolios, please contact Jon Frankel, president & CEO, at (972) 588-1999, extension 701.