Los Angeles-based Cash Technologies Inc. said that it has completed a $2 million investment in Business Intelligent Processing Systems Ltd., a London-based payment processor, in exchange for a 10 percent equity stake in the company.
BIPS was formed by the founders of Copeland Burtnick Associates Ltd., pioneers in the online payment industry, providing domestic and international credit card processing, fraud and risk management services and consulting for online merchants in retail and gaming.
Cash Technologies provides data processing solutions in the healthcare and financial services industries. BIPS has been a distributor of Cash Tech’s prepaid debit card, marketed under the brand name Greenback Card. Prepaid debit cards are new to the European market.
