Payroc agrees to buy BlueSnap
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Payroc says the deal creates a unified acquiring powerhouse that offers both end-to-end global card acquiring and eBanking processing capabilities to merchants, ISVs, and embedded technology partners.
It also extends Payroc's acquiring footprint across 47 countries and strengthens the North American-focused outfit's position 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,' says Jim Oberman, CEO, Payroc. 'This transaction dramatically expands our global footprint and the breadth of capabilities we can bring to our customers and partners."
The acquisition is expected to close in the third quarter, subject to regulatory approval.
Last year, BlueSnap and its former CEO paid $10 million to settle with the Federal trade Commission for knowingly processing payments for "deceptive and fraudulent" companies.
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