View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 27, 2022

Paystone buys Canadian Payment Services

Payment and software company Paystone has announced the acquisition of Canadian Payment Services (CPS) for an undisclosed sum.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

CPS offers merchant services such as credit card and Interac processing, gift card and loyalty programmes among others. It has served more than 10,000 merchants.

The acquisition strengthens Paystone’s position, which processes over $10bn annually in bankcard volume through its 35,000 locations across Canada and the US.

Paystone is also looking to hire over 100 new employees by the end of this year to grow in service, offering, and revenue.

CPS marks the sixth acquisition by Paystone, which bought Montreal-based DataCandy and Vancouver-based NiceJob in the past two years.

Paystone CEO Tarique Al-Ansari said: “This is the largest acquisition we have made to date in relation to both new revenue and clients. Additionally, we are also excited to provide additional value to CPS merchants through Paystone’s proprietary product and service offerings.”

CPS managing director Simon Lobanov said: “We are happy to turn our customer base to Paystone so they can continue to receive the highest level of customer care as well as be able to grow their business via new value-added products proprietary to Paystone.”

In January 2021, Paystone raised $69m in funding to support its growth in electronic payment processing solutions and customer engagement services.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International