TabaPay plans to acquire Denver-based Transact Bank and rename it TabaBank

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TabaPay plans to acquire Denver-based Transact Bank, with the deal expected to close in the fourth quarter, pending final regulatory approval. After closing, Transact Bank will be renamed TabaBank, and together with TabaPay will be under the newly registered bank holding company TabaHoldings; the CEO expects TabaBank to begin operations in April. TabaPay said it will continue working with its existing partner banks, which will continue to handle its cross-border payments business and process payments for some of its large merchant clients.