US-based Aurora Payments has purchased fintech payment provider One Payment for an undisclosed amount.

With headquarters in Florida, US, One Payment caters to more than 6,000 merchants, focusing on minority-owned small and medium sized enterprises.

The firm was jointly established by Luis Requejo and Jorge Calzadilla in 2009. It is said to process more than $1bn worth of transactions per year.  

The company develops payment technology and processing solutions for several segments such as quick service restaurants, retailers, and service sectors.

Aurora Payments CEO Brian Goudie said: “The incredible year-over-year growth that One Payment has enjoyed has our team ecstatic about this acquisition.

“One Payment adds significant value to Aurora with its roots on the East coast and accelerates our diversified go-to-market strategy.”

With the deal, Aurora aims to diversify its distribution networks to strengthen its go-to-market offerings.

Aurora expects to achieve this by leveraging One Payment’s reach in the East Coast.

The takeover will enable Aurora to bring more than 27,000 merchants into its fold, with an annual processing volume of $12bn.

In addition, One Payment aims to tap Aurora’s full-service payment ecosystem and proprietary technology, enhancing its distribution.

Requejo said: “Over the past 14 years working in the payments space, I have met few transformative people like Brian Goudie who can shape the outlook of an organisation and be a positive influence for good.

“Since 2016, Brian has been instrumental in our success, and he is the visionary we want to help propel One Payment through the next stage of our company’s growth.

“One Payment is proud to ‘Rise with Aurora’, as we pave a new path for our business, our employees, and our merchants.”