Paysafe Acquires US Payment Processing Provider iPayment

Globally-operating payment services provider Paysafe has announced a new addition to its portfolio. The company proceeded to acquire iPayment Holdings, which is a US-based provider of payment and processing solutions for small and medium-sized businesses (SMB).

The deal is paving the way for Paysafe to expand its presence in North America in line with its commitment. The company has previously highlighted its interest in the SMB Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term space.

Buying iPayment is building upon the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Merchant Choice Payment Solutions, a deal that was announced last August. Following today’s announcement, the firm will become the fifth largest payment service provider in the US.

iPayment Details

iPayment has over 137,000 merchant customers with its annual payments turnover amounting to $28 billion last year. The firm has both direct and indirect sales channels and is a well-respected provider and partner for hundreds of agents, sub-ISOs and software developers specializing in the SMB sector.

With over 450 employees across the US, located in Boston, Massachusetts; Westlake Village and Camarillo, California; and Minden, Nevada, the merger deal can enable clients to get access to more product choices.

Joel Leonoff, Paysafe’s President and CEO, commented: “This targeted acquisition is part of our long-term investment strategy to grow our business in North America and builds on our other successful acquisitions over the past couple of years.”

“iPayment is an excellent strategic fit with Paysafe in terms of its comprehensive product offering, customer-centric focus and overall strategic vision. By bringing our two organizations together, we will be able to further strengthen our wide-ranging payments processing suite and expose it to a broader audience of merchants and consumers. We are all looking forward to the multiple opportunities this combination brings to the market,” Leonoff elaborated.