In its second-largest acquisition, Amazon buys the company for $970 million.
CRE Secure’s technology and existing partnerships with payments industry leaders complement ControlScan’s PCI compliance and security solutions.
ATLANTA, May 9, 2012 -ControlScan announced today that it has acquired Atlanta-based CRE Secure, the industry’s most advanced cloud-based secure payment solution for online merchants. The acquisition officially closed on April 30, with financial terms left undisclosed.
A level one PCI DSS-certified service provider, CRE Secure provides a hosted payment page that utilizes patent-pending HTML cloning technology to deliver a more consistent experience for the online consumer as well as a secure, PCI-compliant ecommerce solution for the merchant. CRE Secure’s technology and existing partnerships with payments industry leaders complement ControlScan’s PCI compliance and security solutions. The CRE Secure solution offers ecommerce merchants, and the acquirers who serve them, a way to significantly reduce PCI scope, making the compliance process simpler and more affordable.
“The combination of ControlScan and CRE Secure is a natural fit that provides increased value for our current ISO, acquirer and processor partners who are looking for a full suite of PCI compliance and security solutions for their merchants,” said Joan Herbig, CEO of ControlScan. “By adding CRE Secure’s ecommerce products, ControlScan will now offer a solution that advances our mission to further simplify the process of compliance for ecommerce merchants."
Payment providers and merchants have benefitted from CRE Secure’s unified technology, which employs a single, cloud-based system to support the merchant’s payment channels, including online, mobile and MOTO (mail order/telephone order). Platform plug-ins enable merchants to connect with their preferred payment processor and existing ecommerce solutions. These benefits translate into a seamless, simple and secure customer experience at a lower cost to the merchant.
“This is an exciting time for ControlScan and CRE Secure as we combine forces to further the technologies and services that help merchants secure sensitive data across all their payment platforms,” said Kevin Lee, president and CEO of CRE Secure. “CRE Secure will continue to provide the same great service customers have come to expect, and over time, will integrate with ControlScan in ways that will benefit our companies and customers alike.”
With the inclusion of CRE Secure technologies, ControlScan foresees new opportunities in the card-not-present (CNP) space. As EMV gains acceptance in the United States, the threat of fraud in CNP transactions is likely to increase. ControlScan plans to advance the CRE Secure product to further protect online merchants, who are working with payment data from cards not physically swiped by a reader.
While specific transaction details of the acquisition were not disclosed, ControlScan did confirm that the majority of CRE Secure’s staff will join ControlScan at its corporate headquarters, also in Atlanta.
About PCI Compliance and Security Provider, ControlScan
Headquartered in Atlanta, Georgia, ControlScan is the leading provider of Payment Card Industry (PCI) Compliance and Security services designed to meet the unique needs of small to mid-sized merchants and the acquirers that serve them. The company’s flexible solutions, easy-to-use online tools and personalized support significantly simplify PCI and security for its clients. In addition, as an Approved Scanning Vendor and a Qualified Security Assessor, ControlScan is positioned to help merchants meet compliance requirements and maintain secure business environments for their customers. For more information about ControlScan and its cloud-based solutions visit controlscan.com or call 1-800-825-3301.