Payment solutions company Rev19 has acquired merchant services provider Renaissance Associates and payment technology and processing firm PurePayments.
Financial details of the acquisitions have not been divulged.
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The company expects the deals to supports its payment processing, payment management technology and customer support capabilities. The company enables both online and in-store payments.
Following the acquisitions, the company will serve approximately 4,000 merchants and process about $1.2bn payments annually.
The addition of Renaissance’s payment processing capabilities and PurePayments’ network will facilitate integration with payment applications and payment management tools.
Rev19 added that the platforms and integrations will optimise its payment processing for partners and customer based.
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By GlobalDataRev19 CEO Corey Young said: “Renaissance and PurePayments fit our strategy of acquiring high growth businesses with great margins, a strong existing customer base, and technology enhancement opportunities. Organisations that operate in large, quickly growing markets are what we look for.”
Renaissance said that Rev19’s merchant payment solutions could support its growth in integrated payments market.
Renaissance CEO Daniel Martin said: “Rev19 has developed and is continuing to develop omnichannel solutions for merchants that are unique to the payments space.
“These products will enable us to accelerate our growth into integrated payments and provide our merchants with truly value-added, long-term solutions.”
PurePayments offers front and back-end solutions across various platforms and payment technologies. The firm will help boost Rev19’s merchant base in the US.
