Electronic payments processing is becoming “increasingly critical” for Ontario Systems’ customers, which mandated the acquisition of SwervePay acquisition, a payment facilitator in the accounts receivable management and healthcare industries.
The purchase comes as Ontario Systems has recently shifted to being backed by private equity money, as it was acquired last year by New Mountain Capital, according to a Government Technology report.
Ontario Systems aims to sell RevQ+ software on the market, which works with managing the collection of fees for court-ordered debt payment, income taxes and property tax.
SwervePay, meanwhile, offers text payments and automated balance messages on top of its main services for electronic payments. SwervePay’s implementation doesn’t need an app sign-in or any kind of extra steps, the release states.
Jaeme Adams, current Ontario Systems vice president of payments, also worked with SwervePay in the past as CEO and vice president, according to the release. Adams said the acquisition would be a way to help remove stresses and cumbersome processes in the payments process.
“The most important part of the accounts receivable operation is completing the final step — capturing and processing the payment — as smoothly as possible,” Adams said in the release.
Adams said the combination of the two companies’ services could remove unnecessary steps by consolidating workflow, consumer communications and revenue-capturing tools all in one place.
Automating payments, usually with an end goal of streamlining processes that were slowed down by too many steps in the paper age, has become especially popular during the global pandemic, which has forced employees to work from home.
By switching to more digital processes, government entities like those Ontario Systems services will find it easier to deal with supplier outreach and connectivity issues as remote work continues for the time being.