Securus Technologies announced earlier that they are now acquiring GovPayNet, an independent payment processing company servicing government agencies. The decision came from the executives working at Securus Technologies, hoping that the addition of GovPayNet in their company portfolio would increase the value of the telecommunications company and would draw in more investors. Securus Technologies is also planning to integrate the payment system into their system since they are also serving a government agency focusing on correctional institutions. The acquisition of GovPayNet was not a surprise for many because Securus Technologies has been giving out hints long before they revealed the purchase.
Long before being under the ownership of Securus Technologies, GovPayNet is one of the largest payment processing companies in the United States. They are operating mainly in the rural part of the United States, making the payment for fees, fines, bail and other financial punishment convenient for the people who are living far away from town centers. GovPayNet was established in 1997, by a sheriff who is having a hard time dealing with all the paper works that he had to process each day. In 1997, he decided that a better system should be developed for those who are just paying their fees and fines. This is where the idea to create a system that allows the payment of fees and fines came from. The sheriff worked with people who are adept at programming, and they built GovPayNet.
Securus Technologies is planning to process more than 40 million transactions now that GovPayNet is right in their company portfolio. They are stating that more needs to be done, and they will be looking after how GovPayNet is being readied for the official transfer of ownership. Securus Technologies added that their recent investment in the payment processing industry would help the company soar higher, because of the rising demand for the payment processing services.