Payment processing company BluePay is strengthening its presence within the nonprofit sector and is doing so with an acquisition. The company announced the takeover of cloud-based enterprise financial management company Billhighway on Tuesday (Feb. 9), and according to reports, it means BluePay can reach more entities in this industry.
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Billhighway provides financial management software for the nonprofit sector and other companies. BluePay said that the merger will allow the companies to combine their technologies for the benefit of the corporate clients of both firms.
BluePay provides POS and online payments capabilities in the B2C payments space but also offers CRM and ERP software integration and payment processing for the B2B payments arena.
Nonprofits can access streamlined and automated payment and financial tools from these businesses, they said; the nonprofit market is one of BluePay’s largest verticals and can now service these customers with Billhighway’s enterprise resource planning solutions.
In a statement, BluePay CEO John Rante said the company is “extremely proud” to have inked this deal with Billhighway. “They have built an impressive company, distinguished by innovative technology, a strong annual growth rate and incredible customer satisfaction,” he said. “Their not-for-profit vertical is a great strategic fit with the BluePay integrated merchant base, and we are confident that by joining forces we will accelerate our growth in that sector.”
The nonprofit sector has been the focus of attention from other FinTech players in recent years, too.
Blackbaud, for instance, rolled out last year its Financial Edge NXT solution for the industry, a new software service to provide AP and AR management, corporate banking and other accounting and finance offerings built directly for nonprofit companies.