CT-Payment completes restructuring, reimburses creditors ahead of schedule

CT-Payment Inc, a Repentigny, Québec-based debit- and credit-card processing business, has completed its restructuring. The company announced that all of its creditors have been reimbursed, including Investissement Québec, one year ahead of schedule. CT-Payment also said that it has reinforced its technology product platform for the Canadian payment industry, and extended its commercial activities in the United States and Europe. CT-Payment is a portfolio company of the Fonds de solidarité des travailleurs du Québec FTQ.


Successful Restructuring for Quebec-based Company CT-Payment

REPENTIGNY, QC, Dec. 16, 2013 /CNW Telbec/ – Quebec-based CT-Payment is pleased to announce the company has completed its restructuring and is back on the road to profitability. As of today, all creditors have been reimbursed (in accordance with Act C-36) – including Investissement Québec – one year ahead of schedule.

“We’ve gone through some difficult times since 2011, but we can now say those times are behind us,” said Denis Robert, who spearheaded the recovery effort as chief executive officer. “The company is not only profitable—it’s growing. Indeed, we’ll have lots of good news to announce in 2014.”

Over the past 18 months, CT-Payment’s new management earned back the trust of investors and strategic partners, increased customer loyalty, and signed new partnership agreements. As a pioneer in the implementation of electronic-payment solutions, CT-Payment also reinforced its technology platform to become the Canadian leader when it comes to product diversity and advanced technology in the payment industry. With these advances, the company was able to extend its commercial activities in the United States and Europe.

CT-Payment wishes to thank its 40 employees, its customers and its suppliers for their loyalty. “Their unshakeable trust made possible the company’s recovery and allowed us to keep a leading company like CT-Payment in Quebec, maintaining quality jobs,” added Mr. Robert.

CT-Payment makes life easier for over 60,000 Canadian retailers, corporations and public institutions who use the company’s services to perform payment transactions worth over 15 billion dollars each year.

About CT-Payment Inc.

CT-Payment (CTP) is Canada’s largest debit- and credit-card processing company to be fully independent of Canadian financial institutions and acquirers. As a member of Interac® and a debit acquirer, CT-Payment delivers integrated debit authorization and settlement services on behalf of its customers and business partners. As an experienced multi-acquirer service provider, CTP offers transaction processing for point-of-sale debit and credit terminals, customized web-payment integration solutions, and the management of loyalty programs. CT-Payment further specializes in the development of platforms for emergent technology in the North American payment-processing ecosystem. It fully complies with PCI international security standards.

To find out more: www.ct-payment.com.


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