GFI Solutions Inc. announced it has acquired Tender Retail Inc., a Toronto-based payment solutions company with a major distribution network in North America. Terms of the deal were not disclosed, but the 30 staff of Tender will be joining GFI Solutions.
“Tender Retail was the missing piece in GFI Solutions’ distinctive e-payment product line. We are now at the very heart of e-transactions between financial institutions and Canadian merchants and we are ready to pursue development of the market,” says GFI Solutions President and CEO Gilles Létourneau. “We will do everything to conserve the neutrality essential to this strategic position in order to provide optimal service to banks, processors, and merchants,” adds Electronic Solutions Executive Vice-President Alain Philippe.
GFI Solutions intends to expand its product line, and it will be introducing a semi-integrated payment solution complementary to Tender Retail’s offering. With this, GFI Solutions will become the largest point-of-sale payment solutions provider in Canada.