Payroc, LLC, a high-growth merchant acquirer, processor and payment facilitation powerhouse, today announced it has acquired the assets and operations of independent sales organization Gateway Payments, LLC. Gateway Payments, with its principal sales office in Destin, Fla., serves merchants in Destin, Pensacola, New Orleans and other high-growth Gulf coast markets. The company’s customers and sales personnel are welcome additions to Payroc’s rapidly growing merchant portfolio and sales organization. The transaction closed Feb. 28. Terms of the deal were not disclosed.
“Payroc is growing quickly, both organically and through acquisitions,” said James Oberman, chief executive officer for Payroc. “With a focus on earning payment processing business from small and midsize merchants by offering the latest technologies, transparent pricing, interchange education and above-and-beyond service, Gateway Payments is a natural addition to our business,” added Oberman. “We are pleased to welcome Gateway Payments’ highly productive and customer-focused sales representatives and its healthy and growing portfolio of merchant customers into the Payroc family.”
“Payroc is building a unique and special business in the world of payment processing,” said Josh Foster, sales manager for Gateway Payments who will continue to lead the Destin office. “We are excited to join forces to offer an expanded suite of products and services to our merchants and be a part of Payroc’s fast-paced growth and success.”
Payroc is a high-growth merchant acquirer, processor and payment facilitation powerhouse operating in 46 countries, processing $23 billion in annual charge volume for more than 55,000 merchants. The company offers best-in-class sales enablement and merchant processing technology on a global basis, delivering proprietary, innovative and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc is a registered Visa third party processor (TPP), Mastercard third party servicer (TPSV) and a registered independent sales organization and merchant services provider (ISO/MSP), payment facilitator and encryption support organization for Fifth Third Bank, an Ohio-chartered bank, Cincinnati, Ohio. The company is also a registered ISO/MSP for Wells Fargo Bank, N.A. (“Wells”), Concord, Calif., and is an Elavon payments partner and registered as an ISO/MSP of Elavon, Inc., Ga., a wholly owned subsidiary of US Bank Minneapolis. The company’s Canadian business unit is a registered ISO/MSP of Wells and Peoples Trust Company, Vancouver, Canada. For more information, please visit payroc.com or telephone 844-PAYROC-4.