The strategic assets of AlertPay Inc., a Montreal-based online payment processor, have been acquired by MH Pillars Ltd., a UK-based firm specializing in prepaid-card solutions. By acquiring AlertPayâ€™s proprietary technology, MH Pillars will be able to enter the online payments industry with a full suite of solutions.
â€śWe are very excited to join forces with MH Pillars, and their team of seasoned professionals. Â We feel that our e-wallet and payment processing capabilities coupled with MH Pillars prepaid-card expertise will form a symbiotic relationship. â€ť said Firoz Patel, CEO of AlertPay. Â â€śWorking with the industry expertise of MH Pillars will help accelerate our target market penetration, along with increasing the service offerings for our current customer base.â€ť
AlertPay recently broke new ground by becoming Bangladeshâ€™s first online payment processor to offer localized bank transfers to its citizens. With Bangladesh becoming one of the worldâ€™s leading service exporting countries, especially in the IT industry, an affordable and fast way for Bangladeshi freelance IT workers to receive their international payments was top priority for the country. AlertPay was able to deliver this solution to the country.
â€śAlertPayâ€™s commitment to delivering solutions to under-served markets is one of the main reasons we made this acquisitionâ€ť said Christopher Henry, president of MH Pillars. â€śTheir commitment to customer support was another â€“ no other online payment processor has demonstrated their level of excellence in serving their customers, answering their questions and solving their problems. Â Since they are also a leader in the online payment processing industry, we knew that joining forces would be profitable while maintaining MH Pillarsâ€™ core set of values, commitment to excellence through customer support and innovation.â€ť