UMB acquires CardPartner Affinity Card Service

UMB Bank, n.a., the lead bank of UMB Financial Corporation, announces the acquisition of CardPartner from Serverside Group. The agreement was signed in the first quarter 2010 and terms of the deal are not disclosed.

The acquisition is a natural evolution of the relationship between UMB and CardPartner. In 2008, the two companies partnered to create a free, customized affinity Visa credit card program for organizations andnonprofits of all sizes. UMB has been the issuer and financial custodian of the credit cards, which assist nonprofitt organizations in raising funds via use of the cards.

"UMB is excited about the growth potential of CardPartner's business model that offers organizations a simple, yet robust fundraising service," said George Schmelzel, senior vice president of UMB Credit Card Services. "We have seen an increasing number of organizations utilizing this revenue generating program and we continue to experience growing demand for CardPartner's turnkey solution."

Doug Davis, vice president of CardPartner business development added that, "Directly aligning our services with a stable and experienced bank in the credit card industry solidifies a tremendous fundraising service for non-profit organizations. As a result of this acquisition, customers will experience no changes and we remain committed to providing the same level of service and dedication as in the past."

Serverside Group President Adam Elgar said, "The CardPartner business model has huge potential and UMB is perfectly placed to take the company forward. We felt it was important to focus on our own core business, which is to innovate and invest in the future of digital payment cards."

CardPartner's current team will remain in place working from their New York City office.

For more information, visit www.umb.com.