Payments solution provider PayTrace has been acquired by payments provider North American Bancard is an undisclosed deal.
NAB is a leading PayTech innovator and has a diversified product platform that provides an end-to-end infrastructure to enable globally-preferred payment types.
The company processes over $45bn in transactions every year for hundreds of thousands of merchants worldwide.
PayTrace claims it settled over $43bn in 2021 and currently serves over 40,000 merchants across the globe.
According to PayTrace, one of its first steps with NAB will be to add the Electronic Payment Exchange network to PayTrace, which is a consumer shopping payment experience that has strong data security.
Copyright © 2022 FinTech Global
