Payroc WorldAccess LLC, which is backed by Parthenon Capital, has acquired Iroquois Merchant Services, a provider of electronic payment processing services. No financial terms were disclosed.
TINLEY PARK, ILL. (PRWEB) APRIL 04, 2022
Payroc WorldAccess, LLC, (“Payroc”), a global payments leader, has announced the acquisition of Iroquois Merchant Services, a leading provider of electronic payment processing services for businesses, local government entities, non-profits and more. Through strategic partners, banks, associations, and technology platforms, Iroquois implements customized payment processing solutions creating efficiencies in acceptance, reconciliation, and reporting.
Daniel McGugin, founder of Iroquois Merchant Services stated, “Iroquois Merchant Services has always been primarily focused on our partners and customers. Payroc’s technology stack and international reach will help drive Iroquois into the high-growth world of integrated payments, payment facilitation and international processing, while equipping our sales channels and customers with reliable core payment processing solutions.”
James Oberman, CEO of Payroc stated, “We’re extremely excited about the acquisition of Iroquois Merchant Services. Daniel and his team fit and complement our growth strategy perfectly and will leverage our differentiating payment technology, in-house processing capabilities, and experienced support team. We look forward to welcoming Daniel and the Iroquois team to Payroc as we drive global distribution of payments and technology.”
Payroc is backed by private equity firm Parthenon Capital who assisted Payroc in completing this acquisition.
Payroc WorldAccess, LLC is a high-growth merchant acquirer, processor, and payment integrations powerhouse processing more than $40 billion in annual charge volume in over 40 countries, for more than 123,000 merchants. Payroc WorldAccess, through its subsidiaries, offers best-in-class sales enablement and payment processing technology on a global scale, delivering proprietary, innovative, and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc (through its subsidiaries) is a registered Visa third party processor, Mastercard third party servicer, payment facilitator and encryption support organization for Fifth Third Bank, National Association (“Fifth Third”), and in Canada is registered with Peoples Trust Company, Vancouver, Canada. To learn more, visit http://www.payroc.com.