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IPayment to acquire Leaders Merchant Services

IPayment Inc., a provider of payment and processing solutions for small and medium-sized businesses, is acquiring Leaders Merchant Services, a California-based independent sales organization, or ISO.

Leaders Merchant Services specializes in credit and debit card processing and point-of-sale solutions.

IPayment closed its refinancing on existing term loans and incremental borrowing, the proceeds of which will be used to partially fund the acquisition. Leaders Merchant became a registered ISO partner of iPayment in 2004.