North American merchant acquirer and payment technology provider Payroc has agreed to acquire BlueSnap, a payment orchestration and accounts receivable automation platform. Financial terms of the deal were not disclosed.
Payroc states that this acquisition will create a comprehensive acquiring solution, providing end-to-end global card acquiring and eBanking processing capabilities to merchants, independent software vendors (ISVs), and embedded technology partners.
The deal expands Payroc’s reach into 47 countries and enhances its presence in the EU and UK. “Integrating BlueSnap’s orchestration layer with Payroc’s direct-connect network transforms our ability to serve merchants and ISVs at scale,” said Jim Oberman, CEO of Payroc. “This transaction dramatically expands our global footprint and the capabilities we can provide to our customers and partners.”
The acquisition is expected to be finalized in the third quarter, pending regulatory approval. Last year, BlueSnap settled with the Federal Trade Commission for $10 million for processing payments for “deceptive and fraudulent” companies.