Merchant acquirer and payment processor Payroc will merge with Payscape, NXGEN International, and BluePay Canada.
The deal will create a full-service global merchant acquiring and payment facilitator which operates in 46 countries, serving over 55,000 merchants and processing $23bn in annual bankcard volume.
Payroc is a point of sale provider, offering restaurants and merchants with a selection of payment terminals ranging from desktop applications to handheld devices.
With the extended capabilities, Payroc is seeking rapid expansion and growth through sales, marketing, and innovative technology for front-end and back-end processing platforms.
The consolidated company will have over 1,000 employees and independent payment professionals. Payroc CEO James Oberman will serve as the chief executive officer of the combined company.
Payscape and NXGEN CEO Adam Bloomston will become the president of the combined company.
Payroc CEO James Oberman said, “It’s an exciting time for all of us joining together to create an industry-leading global merchant acquirer, processor and payment facilitator. We are a unique and specialized full-service business, serving both the new world of integrated payments while continuing to support the traditional independent sales organization and agent channels here in North America and globally.”
The merger was supported by private equity firm Parthenon Capital.
Parthenon Capital partner Zach Sadek said, “Since this initiative began with our partnership with Tom Nitopi and the NXGEN team, we have been focused on bringing together exceptional businesses with powerful technology-driven solutions that bring value to their customers and business partners.
“Payroc and BluePay Canada are perfect complements to this strategy. Both enhance the company’s global presence and expand capabilities in the attractive payment facilitation and business-to-business payments markets.”
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