LANCASTER, PA — Paramount Management Group is pleased to announce it has acquired certain assets of EZ Payments, Inc.
Founded over 18 years ago by Jose Vargas, EZ Payments was one of the pioneering independent ATM deployers in Puerto Rico having established relationships with some of the leading retailers throughout the island.
“We are very pleased to complete this acquisition,” Jorge Fernandez, Paramount Chief Development and Marketing Officer says. “EZ Payments identified the opportunities that the local market provided for independent ATM deployers and quickly capitalized on that opportunity, becoming one of the largest deployers in Puerto Rico over the years.
“This acquisition further solidifies our leadership position in Puerto Rico and brings us additional growth into a market where we already have a large presence,” Fernandez continues. “By adding EZ Payments and their large installed base of leading local and international retailers to our existing portfolio, Paramount is now uniquely positioned to provide additional services to our retail and financial institution customers. For example, our large retail footprint provides our financial institution customers the ability of expanding coverage through our branding offering as well as thru our surcharge-free network participation alternative.”
“The ATM Industry has changed dramatically over the years, only companies that fully understand the ever-changing payment needs of the consumers and the evolving needs of financial institutions are going to grow. Paramount has clearly demonstrated that it understands these new market forces and it continues to invest in creating new solutions to meet the needs of its customers,” Vargas said. “After successfully growing the business for close to 20 years, we felt it was time to hand over the keys of our operation to a larger and well financed organization that could further build on our success and help our customers maximize their income as well as implement newer technology.”
“This acquisition not only strengthens our ATM presence in this important consumer market, it also provides the platform to continue growing our digital media and valued added services at the ATM, which Paramount has pioneered and is aggressively growing in the mainland US and in Puerto Rico,” notes Fernandez.
ABOUT PARAMOUNT MANAGEMENT GROUP, LLC — A national leader in implementing solutions incorporating technology allowing consumers, retailers and financial institutions to interact with each other, Paramount’s services include the placement and operation of ATMs, digital media solutions and meeting consumer needs by providing bill pay, money remittance, gift card dispensing and crypto-currency solutions among other services at the ATM. The company’s Sharenet division specializes in providing ATM outsourcing solutions to financial institutions. Visit www.paramountmgp.com to learn more.
ABOUT EZ Payments Inc. — Since 2000, EZ Payments has been one of the leading ATM Deployers in Puerto Rico, with additional presence in Florida. The company offers a full suite of ATM processing and tun key solutions to leading national and international retailers.
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