Vancouver-headquartered Telus Corp (TSX:T) has sold its debit and credit card processing business to Quebec-based CT-Payment Inc. for an undisclosed sum.
The business unit offers custom payment solutions and supports transactions from all major credit cards and private-label travel, entertainment and fleet cards.
The sale will increase CT-Payment's annual transaction volume to more than 110 million transactions per year, serving government agencies, large merchants, telecommunication companies, service companies, retailers and large oil companies.
Telus' share price during the past week: between $33.87 and $34.19; 52-week high: $36.86; 52-week low: $29.12.