Published on the 15/04/2014 | Written by Newsdesk
The New Zealand-based e-commerce company is continuing its growth spurt with the acquisition of a UK-based direct debit billing provider…
Payment solution provider Transaction Services Group (TSG), which comprises Debitsuccess, FFA Paysmart and DFC, has announced that it has expanded its international operations with the purchase of United Kingdom-based Harlands Group which provides business process outsourcing with particular expertise in direct debit and collections management. As a result of the transaction TSG will collect approximately $2 billion of collections per annum across two million customers worldwide via its stable of companies.
TSG already owns Debitsuccess and FFA Paysmart in Australasia and DFC in the UK. The addition of a second operation in the UK comes after last year’s acquisition of UK-based DFC (which provides services to many of the independent gym operators and local authorities) and is in line with the organisation’s growth plans says TSG Chief Executive Officer, Craig Marshall.
“This move further builds our capacity and capability in international markets, particularly in a region that is seeing substantial growth in recurring payments and related solutions. It is a great fit for both businesses with our strong customer service ethos and extensive direct debit expertise in both bank account and card transactions.”
TSG’s businesses support the growing subscription economy – a business model that is increasingly being used by organisations of all sizes to secure reliable cashflow – which is changing the way we do business and leaving companies with a need for technology or an outsourcing solution to support payment collection.
Marshall says: “The subscription economy is revolutionising the way organisations collect recurring payments […] Driven by customer demand for convenience and flexibility, recurring payment models are being embraced by businesses of all genres to grow sales and deepen customer loyalty.”
He adds that the purchase of Harlands Group is “a key component” on its growth roadmap and will see the wider business initiate more than 36 million transactions worldwide each year.
Mark Collison, joint Managing Director, Harlands Group says the acquisition will open new doors for both parties. “We are looking forward to working with Transaction Services Group – and we are excited about the strategic, operations and sales opportunities this new partnership will offer.”
Kevin Scott, joint Managing Director, Harlands Group agrees: “This association will see a number of benefits – from support at a governance and executive level to further enhancing the value of our operations.”
Both Harlands Group and DFC will continue to operate as independent entities in the market.
