Payments technology company Priority Technology Holdings says it has integrated its MX Merchant ecosystem with Valor PayTech, part of a collaboration between the companies for omnichannel solutions.
“Working with Valor has been refreshing,” John Grebe, vice president of product strategy for Priority, said in a news release Thursday (Oct. 13). “They’re not just focused on their technology; they’ve been instrumental in helping us solve pressing business problems.”
Based in Georgia, Priority offers a platform letting companies collect, store and send money, and which operates at scale. Valor provides “cloud-based, end-to-end, processor-agnostic omnichannel payments solutions” for resellers and their merchant customers.
The companies say their partnership creates an “extensive roadmap for third-party software integrations,” with the Valor Connect cloud-based integration needing little to no effort for independent software vendors and their customers to add Valor payment terminals.
“Significant synergies between the two companies have already resulted in the development of incredibly creative solutions that give Priority resellers more opportunity to close more sales and earn substantially more,” Valor Chief Operating Officer Eric Bernstein said in the release.
Read more: Priority Technology, PAX Team to Offer Improved Payment Solutions
This news comes a little more than a week after Priority announced a partnership with PAX Technology, a global provider of payment products. That partnership is an offshoot of previous work Priority and PAX had done together, with PAX developing, customizing and certifying their VTX payment app to let end users, including Priority clients, use the complete line of PAX’s Android products.
PYMNTS spoke recently with Tim O’Leary, Priority’s new chief financial officer, about his industry’s growth opportunities.
Related: Priority Technology’s New CFO Pick Reflects Role’s Strategic Importance
“The vast majority of B2B payments are still done by paper,” O’Leary said. “So, I think it’s early stages, and grabbing market share and having the appropriate technology to help with the transition is critical. I view that as a big, continued growth opportunity for not only Priority, but for the industry.”
He noted that the biggest obstacle to payment automation is inertia — people having trouble changing their systems after years of doing things a certain way.
“As people change, those activities may change as well,” he said. “So, as companies transition workforces, you may see continued acceleration of that move to electronic payments.”
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