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Payroc Acquires Strategic Payment Systems

By: Banking CIO Outlook | Friday, August 28, 2020

James Oberman, CEO

Payroc is an international merchant acquirer, processor, and payment facilitator firm operating in 46 countries, processing over USD 29 billion in annualized volume for more than 66,000 merchants.

FREMONT, CA: Illinois-based merchant acquirer and global payment processing organization, Payroc, completed the acquisition of Strategic Payment Systems, Inc., a full-service provider of class products to merchants, sales offices, financial institutions, and associations. The deal amount remains undisclosed.

“We have always been an aggressive and forward-looking payments company and we were looking for a partner with likeminded objectives. Payroc’s full-service payments technology and acquiring platform is ideally suited to navigate SPS into the high-growth world of integrated payments, payment facilitation and international processing, while delivering all our sales partners and merchants fundamental and reliable core payment processing solutions,” said Jon Stevens, the President of SPS.

Payroc is an international merchant acquirer, processor, and payment facilitator firm operating in 46 countries, processing over USD 29 billion in annualized volume for more than 66,000 merchants. The company offers sales enablement and merchant processing technology globally, delivering proprietary, innovative, and full-service merchant acquiring solutions together with crucial card brand network payment sponsorship registrations.

“The technology and product capabilities of Payroc of course checked all the boxes, but, it still comes down to people. Our long-term relationship with the Payroc team, especially Jim Oberman and Joe Natoli, goes back over 20 years. We have always valued our business relationship and friendship, and now look forward to being partners in our future success,” said co-founder Rick Pylant, CEO and past ETA Board Member and President.

Together with its wholly-owned affiliate Payroc Processing Systems, LLC, it is a registered Visa third party processor (TPP), Mastercard third party servicer (TPSV), payment facilitator (payfac) and encryption support organization (ESO) for Fifth Third Bank, an Ohio-chartered bank, Cincinnati, Ohio. The company is a registered independent sales organization (ISO/MSP) for Fifth Third and Wells Fargo Bank, N.A., Concord, California. NxGen, one of its companies, is an Elavon payments partner and registered as an ISO/MSP of Elavon, Inc., Georgia, a wholly-owned subsidiary of U.S. Bank Minneapolis. Payroc’s Canadian business unit is a registered ISO/MSP of Wells and Peoples Trust Company, Vancouver, Canada.

“We are extremely excited to have SPS join our growing family that make up the new Payroc. Our strategy of combining technology that drives strong organic growth alongside smart strategic acquisitions makes SPS a perfect partner,” Joe Natoli, EVP of Mergers and Acquisitions at Payroc.

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