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North American Bancard buys electronic payment company Point and Pay

Troy-based credit card processing company North American Bancard Inc. has closed on the acquisition of Haines, Fla.-based Point and Pay, an electronic payment processing service company for the public sector.

The purchase follows on Bancard’s March acquisition of point of sale and paging technology supplier CDI Technology L.L.C. from Auburn Hills-based Quantum Ventures of Michigan L.L.C., for least its second buy since Bancard engaged Deutsche Bank Securities as its financial adviser to pursue opportunities in the mergers and acquisitions market almost four months ago.