Realtime Electronic Payments has acquired Scottsdale, Arizona-based PaidSuite, an electronics payments provider for the accounts receivable management sector. No financial terms were disclosed. REPAY is backed by Corsair Capital.
ATLANTA, October 3, 2017 — Realtime Electronic Payments (REPAY), a full-service provider of advanced payment technology products and electronic transaction processing services for a variety of integrated end markets, announced today that it has successfully completed the acquisition of PaidSuite, an electronic payments provider to the Accounts Receivable Management industry.
“This is a highly strategic acquisition. The deal expands our product capabilities and enhances our integrations in the Accounts Receivable Management industry, enabling us to better serve existing and prospective customers,” said John Morris, Chief Executive Officer and Co-Founder of REPAY. “Our partnership with PaidSuite positions REPAY for continued growth as we remain focused on strategic opportunities in the space. We are impressed with the quality of PaidSuite’s people and look forward to welcoming them to the REPAY team.”
Headquartered in Scottsdale, Arizona, PaidSuite provides a robust suite of omni-channel payment capabilities for card and ACH transactions. PaidSuite’s flexible, integrated product offering allows the company to develop customized solutions to meet the unique needs of each customer.
The transaction compliments REPAY’s strong organic growth and supports the Company’s dedication to creating customized solutions for customers in a variety of industries. REPAY will continue evaluating opportunities for additional growth through potential add-on acquisitions.
Terms of the transaction were not disclosed.
Corsair Capital LLC, one of the longest-standing private equity firms focused on the financial services industry, acquired a control stake in REPAY in 2016.
Established in 2006, Realtime Electronic Payments (REPAY) is a full-service provider of electronic transaction processing services for a variety of integrated end markets, offering a suite of advanced payment technology products that include credit and debit cards, ACH processing, consumer-facing payment portals, bank account verification and electronic bill payment. For more information, visit www.repayonline.com.
PaidSuite is a comprehensive electronic payments provider to a variety of end markets, including the Accounts Receivable Management industry. Online payments, recurring billing, and delinquent account collections are all streamlined by PaidSuite’s integrated solutions. PaidSuite has helped over 1,500 organizations realize value via improved payment capabilities. For more information, visit www.paidsuite.com.