Payroc WorldAccess, one of the leading international payment firms, has recently confirmed the acquisition of Worldnet, a provider of unified global omnichannel payments solutions for ISVs. According to the company, the acquisition will help its expansion.
For the mentioned acquisition, Parthenon Capital assisted Payroc. The fintech firm aims to become one of the leading omnichannel payments technology solutions for a broad range of SaaS and ISV providers. Amid the growing adoption of digital tools in the payments sector, Payroc has expanded its offerings substantially in the past few years.
James Oberman, the CEO of Payroc, commented: "We’re extremely excited about the acquisition of Worldnet. Our joint offerings and capabilities will drive more value for partners and developers, and enable more flexibility to create unique payment solutions for consumers. The addition of Worldnet complements our existing products and brings additional payment facilitation capabilities to our team as we focus on delivering flexible, white-labeled solutions.”
Payroc noted that Worldnet’s extensive experience in the global payments technology sector will play an instrumental role in its growth.
Acquisitions
Acquisitions are playing a major role in Payroc’s expansion strategy. Earlier this month, the company announced the acquisition of Iroquois Merchant Services. Moreover, Payroc is backed by the private equity firm, Parthenon Capital.
Commenting on the acquisition, John Clarke, the CEO of Worldnet, said: “We’re ready for this next chapter in the Worldnet story because ISVs and developers deserve a better way to integrate payments into their software. With Payroc’s muscle, we’re positioned to deploy our leading-edge technology on a global scale to help ISVs unify their payment channels in a single platform. Our online, in-store, unattended, and mobile solutions offer an all-in-one embedded payment platforms for scale.”
Nearly two weeks ago, PT FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel Pte Ltd, confirmed the acquisition of a majority stake in Bank Bisnis.
