Payroc announced it has signed a definitive agreement to acquire LedgerPay (d/b/a PayiQ). This acquisition will complete Payroc’s end-to-end processing platform, enabling direct connections to all major card brands, debit networks and clearing platforms, while bringing a full-stack suite of cloud-enabled payment services and industry-leading security to our merchants and partners.
PayiQ’s cloud-native design supports traditional payment services while enabling faster transaction processing, automated management tools and real-time access to detailed order data.
“Payroc becoming a full-stack acquirer is a game-changer for our merchants and partners,” said Jim Oberman, CEO of Payroc. “With PayiQ, we now own and operate an enhanced, fully-secure processing platform with direct network connections to all the major card brands. This acquisition sets a new standard for Payroc, further cementing us as the payments platform built for partners.”
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Key Strategic Highlights
- Dedicated, Direct Network Back End: Payroc will now operate its own PCI-compliant processing core with direct connections to Visa, Mastercard, AMEX, Discover, all key debit networks and clearing platforms. This reduces authorization failures and ensures predictable interchange.
- Cloud-Enabled Payment Services: Upon integration of PayiQ, Payroc will have a complete suite of value-added services: onboarding, risk assessment, chargeback management, agent residuals reconciliation, settlement reporting and more, delivered via API-first modules.
- Rapid Deployment and Seamless Integration for ISVs, Agents, Referral Partners and Merchants: PayiQ enables Payroc to accelerate the rollout of new products and services by owning the entire process.
- Security by Design: Built to meet the highest global standards and supported by annual secure code reviews and penetration tests.
SOURCE: PRWeb