Payments technology provider Aurora Payments has acquired One Payment, the company announced Thursday (Sept. 8).
Based in Florida, One Payment has a portfolio of more than 6,000 merchants, with a focus on minority-owned small and medium-sized businesses (SMBs), Aurora said in a news release.
“With over $1 billion of volume processed annually, One Payment adds immediate scale to the Aurora platform through its acquisition,” the company said. “With One Payment’s East Coast presence and extraordinary success selling into a traditionally difficult-to-penetrate market, the transaction will diversify Aurora’s distribution channels that expand its go-to-market capabilities.”
Founded in 2009, One Payment deals in payment technology and processing for quick service restaurants, retailers, and service industries amongst others. Upon its acquisition, the company will be able to expand its distribution with the help of Aurora’s full-service payment ecosystem and proprietary technology, the release said.
One Payment CEO and Co-founder Luis Requejo said in the release that Aurora CEO Brian Goudie has worked closely with One Payment for years, and “is the visionary we want to help propel One Payment through the next stage of our company’s growth.”
Learn more: Corsair Buys Majority Stake in Aurora Payments
Aurora was founded in 2005, and provides a range of products, services and support, such as point-of-sale (POS) equipment, the ability to transfer funds between banks and merchants, and transaction processing.
Earlier this year, the company was itself the subject of an acquisition when private equity firm Corsair purchased a majority stake in Aurora.
“Corsair will leverage its deep payments expertise to support the company as it seeks to accelerate organic growth, enhance product and technology offerings, and continue building on a history of successful acquisitions,” the firm said in a news release.
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