MELVILLE, N.Y.--(BUSINESS WIRE)--EPSG, a leading integrator of payment technology solutions, announced today that it has extended and significantly expanded its existing revolving credit facility (“The Credit Facility”) with People’s United Bank (“People’s United”), N.A., a subsidiary of People’s United Financial, Inc. (NASDAQ: PBCT).
The extension and expansion of The Credit Facility with People’s United will provide EPSG with enhanced financial flexibilities and additional funds to support the Company’s capital needs and growth initiatives.
Matthew Byron, Chief Operating Officer of EPSG said: “We appreciate the continued alignment and support from the team at People’s United as EPSG is well positioned to take advantage of opportunities in the marketplace we serve and make strategic investments in our growth strategy. The Company will continue to invest in technological platforms that will further enable the anticipated move into the recently announced construction of EPSG’s new corporate facility and state-of-the art Network Operations Center, which will be live in the first quarter of 2021. Furthermore, the Company will be investing in new financial products that will enable our partners to compete in a competitive marketplace. This is a very exciting time in the evolution of EPSG and we are thrilled to have People’s United as a go to partner for the foreseeable future.”
With a combined 60-year history in payment processing and related merchant services, EPSG is built on three basic principles – integrity, transparency, and commitment. We are experts at integrating today’s complex transaction technologies into one simple platform, providing turnkey, end-to-end payment solutions. EPSG’s solutions are designed to simplify the process and reduce processing costs, while increasing partner revenues by providing value-added services.