CardWorks Processing, a subsidiary of Draper-based Merrick Bank, said Thursday that it has acquired the operating assets of Pay By Touch Processing Inc., a subsidiary of San Francisco-based Solidus Networks Inc.
Financial terms of the acquisition were not disclosed. The transaction was approved by the U.S. Bankruptcy Court in the Central District of California.
The assets being acquired are used by merchants to facilitate the acceptance of credit and debit cards. Merrick Bank, a wholly owned subsidiary of Card Works Inc., is an issuer of non-prime credit cards.