Excel Corporation (OTC Bulletin Board: EXCC) has announced the acquisition of startup credit card merchant acquiring company, Excel Business Solutions Inc. As a wholly owned subsidiary of Excel Corp., Excel Business Solutions intends to provide credit and debit card processing services for merchants in a variety of industries.
Excel Business Solutions will seek to provide bank card payment services to merchants in the US. In addition to deploying its own sales effort, the company will recruit Independent Sales Organizations to act on Excel’s behalf. Excel Business Solutions has also positioned itself to engage in the business of purchasing recurring monthly residual income streams from existing ISO/Processor contracts. RBL Capital Group, LLC has issued a non-binding Letter of Intent reflecting terms to underwrite and subsequently finance the acquisition of up to $20 Million of Merchants Based Portfolios.
David Popkin, a successful real estate developer, has come aboard to head the newly combined Excel Corp. Mr. Popkin has managed efforts to acquire property, worked with city agencies to properly entitle prospective developments, established banking relationships to assure appropriate financing, managed hi-rise construction and oversaw marketing and sales efforts. “David’s diverse background and demonstrated ability to manage many different aspects of business make him the right person to drive this combined effort. I feel confident that I am putting the company in capable hands,” saysRuben Azrak, outgoing CEO of Excel Corp.
Excel Business Solutions will seek to provide bank card payment services to merchants in the US. In addition to deploying its own sales effort, the company will recruit Independent Sales Organizations to act on Excel’s behalf. Excel Business Solutions has also positioned itself to engage in the business of purchasing recurring monthly residual income streams from existing ISO/Processor contracts. RBL Capital Group, LLC has issued a non-binding Letter of Intent reflecting terms to underwrite and subsequently finance the acquisition of up to $20 Million of Merchants Based Portfolios.
David Popkin, a successful real estate developer, has come aboard to head the newly combined Excel Corp. Mr. Popkin has managed efforts to acquire property, worked with city agencies to properly entitle prospective developments, established banking relationships to assure appropriate financing, managed hi-rise construction and oversaw marketing and sales efforts. “David’s diverse background and demonstrated ability to manage many different aspects of business make him the right person to drive this combined effort. I feel confident that I am putting the company in capable hands,” saysRuben Azrak, outgoing CEO of Excel Corp.