Dive Brief:
- Payments processor Payroc WorldAccess has acquired payment gateway services provider Agilisa Technologies, according to a Thursday press release. A Payroc spokesperson declined to comment on the price paid.
- Payroc purchased the Dominican Republic company to expand its presence in Latin America, particularly in the Caribbean. The combination will integrate Agilisa’s gateway with Payroc’s worldwide processing network, the release said.
- As part of the deal, Santo Domingo-based Agilisa’s employees will be absorbed into Payroc’s workforce, per the press release.
Dive Insight:
With its Agilisa Technologies’ purchase, Tinley Park, Illinois-based Payroc’s acquisition spree continues apace. It was the third acquisition over the past month.
Earlier this month, the company said it would acquire Bluesnap, a payments orchestration firm. The deal is aimed at letting Payroc provide embedded invoicing, subscription billing, automated reconciliation and other perks to its business customers.
In late July, Payroc agreed to buy LedgerPay so it could offer end-to-end processing for every major card brand and debit network, in addition extending cloud-based payments services.
With its Agilisa acquisition, Payroc aims to improve its integrations and reliability as well as expand its cross-border payments capabilities, the company said in the release. Agilisa serves about 1,300 merchant customers sand processes about 400,000 transaction per month, according to its website.
Acquiring Agilisa will unlock “a network of hundreds of enterprise-level merchants, including marquee regional brands,” Payroc contended in the release.
“Bringing Agilisa Technologies into Payroc enhances our gateway proposition with a single, powerful API that scales across borders,” Payroc CEO Jim Oberman said in the release. “Merchants and partners will benefit from reduced complexity, faster integration, and access to our full suite of value-added services.”
Beyond its three recent acquisitions, Payroc has grown over the past decade by buying other payments companies. Among its other purchases were Select Merchant Services, Integrity Payment Systems and iTransact Group.
The company, which has grown into one of the largest nonbank processors, now handles nearly 800 million transactions annually for about 190,000 clients valued at $115 billion, according to its website.
“We’ll always continue to acquire,” Payroc President Adam Oberman said in a 2021 interview. He is the son of Jim Oberman. “We’re never going to get out of the acquiring game.”
