With acquisition, First Data subsidiary eOne Global aims to develop integrated electronic invoice and payment system.
First Data Corp.s e-payment development subsidiary eOne Global LP announced Monday that it has acquired BillingZone LLC from PNC Bank National Association and Perot Systems Corp.
BillingZone, of Napa, Calif., provides electronic invoice presentment and payment [EIPP] services for companies and their trading partners.
Terms of the deal were not disclosed.
eOne Global, of Pittsburgh, purchased BillingZone to capitalize on what it believes is a tremendous market opportunity in automating the financial supply chain functions of large and mid-tier companies, according to Garen Staglin, president and CEO of eOne Global.
The companys goal now is to provide an integrated electronic invoice and payment system.
The acquisition of BillingZone, which will operate as an eOne Global company, is a first step in that goal, officials said.
The plan is to combine BillingZones services and First Datas existing paper document and check handling capabilities to create a comprehensive offering that automates paper and electronic financial supply chain transactions.
First Datas existing infrastructure currently routes and settles billions of transactions per year, according to officials. The company covers virtually all areas when it comes to transaction processing and funds transfer, from credit card transaction processing to merchant services and ATM network operations.
Formed in 2000 as a joint venture between PNC Bank, of Pittsburgh and Perot Systems, of Plano, Texas, BillingZone offers software that helps to transform accounts payable and accounts receivable processes from manual and paper intensive to electronic, automated processes.
Eric Smith will take on the role of CEO of the eOne operating company, which will be headquartered in Pittsburg.