US-based provider of banking and payment technology BankServ has signed a definitive agreement to acquire e-payment technologies developer NetDeposit, a subsidiary of Zions Bancorporation.

With this acquisition, BankServ aims to gain ground on the payment processing market space. Overall, the company will serve more than 100,000 business locations and over 500 financial institutions with products specialised in internet payments, Fedwire, SWIFT, mobile credit card payments, image cash letter processing and all forms of check image capture.

During a transition period expected to last until early 2011, the BankServ and NetDeposit brands will operate in parallel. The acquisition is expected to close during the third quarter of 2010.