Payments-platform provider Payroc LLC has expanded its footprint in Canada through its acquisition of SterlingCard Payment Solutions Inc., a provider of retail and e-commerce payment solutions, for an undisclosed sum. Tinley Park, Ill.-based Payroc announced mid-day Tuesday it had closed on the deal.
The acquisition enables Payroc to offer a card-present solution for a wide range of merchant categories, including restaurants, retail, health and beauty, specialty grocers, and medical, through its Calderon integrated-payments platform. Payroc’s Calderon platform supports enterprise card-not-present, automated clearing house, and pre-authorized (PAD) debit transactions.
“This acquisition marks a key strategic milestone for our business in Canada, one we have been evaluating and pursuing for a number of years now,” Marcus Dagenais, president of Payroc Canada, says in a statement. “Complementing our enterprise card-not-present and ACH/PAD capabilities, we now have best-of-breed solutions for all card-present and retail environments.”
As part of the transition to Payroc, SterlingCard chief executive Janice Conry will join Payroc Canada. Conry’s duties will include expanding Sterling’s current inside sales and external agent channels. In addition, Payroc Canada will add 11 other members of SterlingCard.
“Joining forces with Payroc is an exciting step forward for Sterling,” Conry says in a statement. “I look forward to contributing to the continued success of Payroc in Canada and globally.”
Payroc processes more than $80 billion in annual transaction volume from more than 151,000 merchants in more than 45 markets. The company ranks among the 35 largest processors by total payments volume as reported by TSG, a payments research and advisory firm.