Georgia-based Realtime Electronic Payments (REPAY) has snapped up PayMaxx Pro, a Florida-based electronic payments provider for the automotive industry, for an undisclosed sum.
REPAY, which offers electronic transaction processing services for the consumer finance sector, aims to expand its offerings through the acquisition.
It currently offers a range of advanced payment solutions such as credit/debit card processing, ACH processing, consumer-facing payment portals, and electronic bill payment systems.
REPAY director of sales and former PayMaxx director Megan Bussie said: “We are excited about the expanded product offerings and technology enhancements this partnership brings to our integrated partners and clients.
“Customers will have access to an enhanced product suite, including a customer-facing mobile app, and they will continue to receive the exceptional PayMaxx Pro customer service.”
REPAY CEO John Morris added: “This acquisition expands our footprint in the automotive industry and broadens our software integration capabilities, enabling us to better serve our existing and prospective customers. PayMaxx Pro’s people will bring a wealth of knowledge and expertise, and we look forward to welcoming Megan Bussie, Jon Leedom and their team to the REPAY family.”
REPAY also indicated that it will continue to invest in the consumer finance and automotive sectors. The firm has been on an acquisition spree in the recent times. Some of its latest acquisitions include that of PaidSuite, an electronic payments provider to the Accounts Receivable Management industry, and Sigma Payment Solutions, which offers payment solutions for the auto finance industry.