PAYMENTS

Paystone Acquires Canadian Payment Services, Making Paystone Canada’s Largest Bank Independent Payments Provider

Paystone | January 27, 2022

Paystone_Acquires_Canadian
Paystone announces the acquisition of Canadian Payment Services (CPS), one of the fastest growing providers of Canadian merchant services. This acquisition is the sixth addition to Paystone’s burgeoning portfolio of acquisitions, having acquired five other businesses in the past two years including Montreal-based DataCandy and Vancouver-based NiceJob.

“This is the largest acquisition we’ve made to date in relation to both new revenue and clients,” explains Tarique Al-Ansari, CEO at Paystone. “Additionally, we’re also excited to provide additional value to CPS merchants through Paystone’s proprietary product and service offerings.”

In addition to providing payment processing services, Paystone offers a wide range of SaaS products including gift and loyalty, reputation marketing, and marketing automation.

Over the years, Paystone has shown their great commitment to serve Canadian small and medium sized businesses. We are happy to turn our customer base to Paystone so they can continue to receive the highest level of customer care as well as be able to grow their business via new value added products proprietary to Paystone.”

Simon Lobanov, Managing Director at CPS.

With the acquisition of CPS, Paystone now services over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. As Paystone continues to aggressively grow in service, offering, and revenue, the business is looking to add over 100 new employees by the end of 2022.

About Paystone
Paystone is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The company's seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and now reputation marketing, is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group's restaurant brands. Paystone's solutions are used at over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America.

About Canadian Payment Services
Canadian Payment Services (CPS) is one of the fastest growing providers of Canadian merchant services, which includes Credit Card and Interac Processing, Gift Card and Loyalty Programs, and Business Cash Advance. With over 55 years of combined experience in the merchant services industry, CPS has served over 10,000 merchants.

Spotlight

The single most important decision individuals can make about retirement is to take responsibility for funding it themselves. Living expenses, health care costs, Social Security, pensions and future employment are all uncertain. But saving today is one way to prepare for a more stable tomorrow. Determining income needs during retirement is a complex equation. During working years, the goal was to save and accumulate as much as possible for the future. Now the challenge becomes managing a portfolio by withdrawing some money for today’s expenses and investing the rest for tomorrow. Invest for long-term growth potential and consider investing in a broader mix of assets. Financial risks don’t end when careers do. Individuals planning for a long, rewarding retirement must anticipate and overcome the obstacles that are likely to arise along the way.


Other News

Fidelity launches two fixed income index funds

Fidelity | August 26, 2020

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BITCOIN AND CRYPTO

Okcoin Partners with PrimeXM, Becomes First Cryptocurrency Exchange to Use Industry-Leading Trading & Aggregation Engine

Okcoin | March 24, 2022

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BITCOIN AND CRYPTO

Facepay Announces Facepay Crypto to Bring Cryptocurrency Payments to Auto Shops

Facepay | March 07, 2022

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FINANCIAL MANAGEMENT

Wave Financial Launches ADA Yield Fund to Support Cardano DeFi Ecosystem Growth

Wave Financial | April 01, 2022

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Spotlight

The single most important decision individuals can make about retirement is to take responsibility for funding it themselves. Living expenses, health care costs, Social Security, pensions and future employment are all uncertain. But saving today is one way to prepare for a more stable tomorrow. Determining income needs during retirement is a complex equation. During working years, the goal was to save and accumulate as much as possible for the future. Now the challenge becomes managing a portfolio by withdrawing some money for today’s expenses and investing the rest for tomorrow. Invest for long-term growth potential and consider investing in a broader mix of assets. Financial risks don’t end when careers do. Individuals planning for a long, rewarding retirement must anticipate and overcome the obstacles that are likely to arise along the way.

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