U.S.-based merchant services provider Payroc announced last week that it had acquired Integrity Payment Systems, a full-service acquirer and processor that also operates as a payment facilitator.
The acquisition will significantly grow Payroc’s business. Payroc previously claimed a merchant base of 10,000, for which it processed more than $4 billion per year. Combined, the companies will serve 27,000 merchants and process more than $8.2 billion annually, Payroc said in a press release.
“Integrity’s proven commitment to service combined with in-house, end-to-end processing and settlement capabilities are uniquely differentiated,” Adam Oberman, president of Payroc, said in the release.
“The companies have the remarkable ability to serve traditional merchants, but also the customized requirements of the rapidly growing, technology-driven integrated software vendor (ISV) payments marketplace.”
Payroc operates as a payment facilitator through its iTransact business. It acquired iTransact’s PF platform with its purchase of that company in 2016, and it continues to maintain the iTransact brand.
Payroc and Integrity will also continue to operate as separate entities under their own respective names, the company said.