Fiserv buys MerchantPro Express

Fiserv | March 03, 2020

Fiserv has acquired MerchantPro Express as part of the fintech giant's strategy to build up its merchant services business. Financial terms of the deal were not disclosed. A Fiserv distribution partner since 2009, MerchantPro Express provides processing services, POS equipment and merchant cash advances to firms across the US. Fiserv says the acquisition will boost its merchant services business and partner-based distribution, complementing its CoPilot, CardPointe and Clover payment technology. Devin McGranahan, senior group president, global business solutions, Fiserv, says: "By combining our solutions and expertise under one roof we will be able to expand and speed the delivery of new and innovative solutions."

Spotlight

Engineering and design have long led project plans and new product development in their own streams as separate entities, but top performing companies aren’t design or engineering-first when it comes to solutioning. They’re both, equally. These top performing companies shifted to an evolved, technology-empowered design approach,

Spotlight

Engineering and design have long led project plans and new product development in their own streams as separate entities, but top performing companies aren’t design or engineering-first when it comes to solutioning. They’re both, equally. These top performing companies shifted to an evolved, technology-empowered design approach,

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TRADING SYSTEMS

White Oak Buys Finacity in Flagship Acquisition

White Oak Global Advisors | September 21, 2021

White Oak Global Advisors has completed the acquisition of Finacity Corporation a global leader in working capital and trade finance funding solutions to global businesses. Finacity originates, structures and places over USD$100 billion in trade finance receivables yearly with over 50 leading financial institutions in asset-backed security structures. Finacity has facilitated transactions for receivables denominated in 58 currencies with obligors in more than 175 countries making it the largest non-bank trade finance platform globally. The deal will see Adrian Katz remain as Finacity CEO and substantive equity holder, working closely with the leadership of White Oak Global Advisors. With this acquisition White Oak and its affiliates will have over 215 professionals focused on asset-based lending offering trade receivables securitization and a variety of ABL products including invoice discounting, factoring, trade finance, supply chain finance, lender finance and import-export finance. The acquisition will accelerate White Oak’s drive into the $30 trillion market for asset-based working capital solutions. Finacity will operate as a standalone business but will work closely with White Oak in a number of areas where there are synergies – including White Oak deploying institutional capital on Finacity’s platform. White Oak is an SEC-registered investment advisor and has over $10 billion in balance sheet assets. It offers over 20 lending products including SME business lending, commercial finance, equipment leasing, structured finance and other specialty lending solutions for the benefit of borrowers. Finacity is headquartered in Stamford, Connecticut and will be rebranded as White Oak Finacity. White Oak’s interest in acquiring Finacity has been long-standing – dating from before the business’ original sale in 2018. Andre Hakkak, CEO of White Oak Global Advisors, said: “We are delighted to be welcoming Finacity to the White Oak family. Finacity is a market leader and there are significant synergies between their work and the work we are already doing at White Oak. “This acquisition further demonstrates White Oak’s commitment to being a leading global player in asset-backed capital solutions which is integral to the functioning of the global economy. In particular, Finacity’s experience in making securitization of accounts receivable and consumer assets less complex and more cost-effective will provide significant advantage to our clients. “We look forward to working closely with Adrian and the team at Finacity as we embark on this new partnership.” Adrian Katz, CEO of Finacity Corporation, said: “Everyone at Finacity is excited to be starting this new chapter of our story as part of White Oak. We have known the leadership at White Oak for a long time and are convinced that this move is absolutely the right one to enable Finacity to thrive. About White Oak White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. About Finacity Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe, Latin America and Asia, Finacity conducts business throughout the world with obligors in more than 175 countries.

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PAYMENTS

REPAY Announces Strategic Partnership with Veem

REPAY | September 24, 2021

Repay Holdings Corporation, a leading provider of vertically integrated payment solutions, today announced it has entered into a commercial partnership agreement with Veem to expand each party’s B2B payment capabilities. With the agreement, REPAY will expand its ability to deliver cross-border payment options, and Veem will broaden its capabilities by leveraging REPAY’s core B2B virtual card and acquiring technology. In addition to the commercial relationship between REPAY and Veem, REPAY has made a minority equity investment in Veem to provide additional support for Veem’s go-forward growth. The investment was financed with cash on hand and pro forma net leverage is expected to remain at the current level of approximately 2.8x. “This mutually beneficial commercial agreement and investment strengthens our relationship with a strategic and long term B2B partner,” said Darin Horrocks, EVP of REPAY’s B2B business. “We are excited to partner with the Veem team to offer our clients a more robust B2B offering, with the help of Veem’s cross-border technology. This should help us unlock more of the massive global B2B payments market, which is estimated at approximately $125 trillion today and anticipated to grow to $200 trillion over the next decade. Additionally, REPAY will enhance Veem’s offering by providing Veem customers with access to REPAY’s issuing technology and virtual payment capabilities. With our companies now strategically aligned, we expect this to be the beginning of a long and successful partnership.” “This partnership with REPAY will empower business users to conduct globalized business transactions with ease and convenience,” said Bimal Shah, Head of Corporate Development for Veem. “Merchants today demand fast, reliable and secure payments. To meet these needs, we’re excited to join forces and give REPAY users access to our digital payment offerings. The digital payments revolution is in full swing and we are thrilled to complement our existing transnational technology products with REPAY.” About Veem Founded in 2014, Veem is an accounts receivable and accounts payable automation provider serving small and medium-sized businesses. Veem offers a wide variety of services, including invoice automation, reconciliation, approvals, and B2B payments, enabling its customers to seamlessly make and receive payments both domestically and cross-border. Veem’s client base includes over 300k customers located in 110+ countries. In addition to REPAY, Veem is supported by an impressive list of financial and strategic equity investors, including but not limited to, Kleiner Perkins, Google Ventures, and Truist Ventures. About REPAY REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

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PAYMENTS

Repay Simplifies B2B Payments By Automating Sage Accounts Payable

REPAY | May 20, 2021

Repay Holdings Corporation one of the leading provider of vertically integrated payment systems, today launched the Sage 100 Automated Payments System to allow companies to pay retailers seamlessly and safely, whilst reducing costs. This adds to current REPAY integrations for the solution Sage X3 and Sage 300. APS Payments, a REPAY organisation and a leading supplier of digital payment systems are available for all B2B channels. Extending REPAY's incorporation into Sage achieves the comprehensive, full-service provider enablement by automating all AR and AP payments. Companies can simplify operations and improve their financial performance easily by paying bills in a timelier manner. “With the addition of accounts payable solutions to our Sage 100 integration, we continue our commitment to reducing costs and optimizing the transaction process for businesses,” comments Darin Horrocks, SVP, B2B, REPAY. He also adds, “Intentionally designed with simplicity in mind, a single integration eliminates unnecessary manual processes while increasing revenue and security – a true win-win for business users on Sage.” Under Sage 100, the Vendor Payments Automation solution allows for the establishment and acceptance of payment groups, vendor group management, and invoicing, as well as automated reconciliation and personalized reporting. About REPAY REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

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