Payroc announced the purchase in a news release Friday (April 22), saying that incorporating Worldnet’s technology into its platform gives Payroc a stronger hold in the ISV and embedded payments sector.
“Our joint offerings and capabilities will drive more value for partners and developers, and enable more flexibility to create unique payment solutions for consumers,” Payroc CEO James Oberman said in the news release. “The addition of Worldnet complements our existing products and brings additional payment facilitation capabilities to our team as we focus on delivering flexible, white-labeled solutions.”
Based in Illinois, Payroc serves more than 110,000 merchants in around 40 countries, providing help with things like risk management, underwriting, global device connectivity and application programming interfaces (APIs).
Worldnet provides an integrated payments gateway platform that gives ISV and Software-as-a-Service clients what Payroc calls a “white-labeled, global payment facilitation infrastructure.” The company is based in Georgia and was founded in 2007.
Learn more: Payments Company Payroc Acquires East Commerce
“We’re ready for this next chapter in the Worldnet story because ISVs and developers deserve a better way to integrate payments into their software,” said CEO John Clarke.
“With Payroc’s muscle, we’re positioned to deploy our leading-edge technology on a global scale to help ISVs unify their payment channels in a single platform. Our online, in-store, unattended, and mobile solutions offer an all-in-one embedded payment platforms for scale.”
Payroc said the acquisition was completed with the help of its backer, private equity firm Parthenon Capital.
In January, Payroc acquired East Commerce Solutions, a merchant service that handles $2 billion dollars processing volume a year.
The company last year joined forces with electronic payment processing firm Dynamic Solutions for a collaboration that allows it to expand to Puerto Rico and paves the way for expansion throughout Latin America and the Caribbean.