Stax Adds Atlantic-Pacific Processing to Boost Its Multichannel Offering

Stax Payments has acquired payment-technology provider Atlantic-Pacific Processing Systems (APPS) for an undisclosed sum.

The acquisition is expected to enable Stax to create a new end-to-end payments platform that includes an enhanced multi-channel offering, improved data reporting, and additional customization capabilities.

“Our partners and customers want a simple, secure, multichannel payment experience, not only for themselves but for their end consumers,” Stax chief executive Paulette Rowe says in a statement. “Through the acquisition of APPS, we have heightened our innovation capabilities and technology position, allowing us to create a bespoke payment experience for any merchant, ISV, ISO, or payment facilitator.” ISVs are independent software vendors; ISOs are independent sales organizations representing payments processors.

With the acquisition, APPS chief executive Abe Maghaguian will join Stax as chief payment officer. APPS chief operating officer Sarah Gerald will also join Stax as chief operating officer of processing. In addition, some 50 employees of APPS will join the Stax team, the company says.

“As the payment landscape becomes more complex, users are looking for a one-stop shop for all of their payment needs,” Maghaguian says in a statement. “This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform.”