Jack Henry Acquires Victor Technologies to Expand PaaS Footprint

Jack Henry says it has acquired embedded payments solutions company Victor Technologies.

By purchasing Victor from MVB Financial, Jack Henry expands its capabilities in the fast-growing Payments-as-a-Service (PaaS) market, in which financial institutions embed payment services into third-party, non-bank brands, the company said Wednesday (Oct. 1).

“The addition of Victor, which processes billions of dollars in payments monthly, provides Jack Henry’s financial institution clients with enhanced capabilities to serve fintechs and commercial customers, grow deposits, and diversify revenue,” the release added.

The release notes projections that the PaaS market will grow from $19.1 billion in 2025 to $43.9 billion in 2029 at a compound annual growth rate (CAGR) of 23.1%.

Founded in 2021 by Jack Henry client MVB, Victor is already integrated with Jack Henry’s SilverLake core bank system and JHA PayCenter. Following this deal, terms of which were not released, Jack Henry plans to expand Victor’s capabilities to serve its Symitar credit union and Treasury Management platform customers, and integrate directly with the new, cloud-native Jack Henry Platform.

Victor’s capabilities include disbursements, receivables, cross-border, escrow, title and e-commerce, with support for virtual accounts and digital wallets, the release added.

“Victor’s direct integration with Jack Henry’s banking core gives financial institutions greater control and visibility, enabling near real-time reconciliation and reducing risk of overdrafts,” Jack Henry said. “The solution also provides a single source of truth for money movement and compliance reporting.”

As PYMNTS wrote last month, PaaS and embedded payments are part of a “new breed of financial infrastructure” designed to shorten the cycle of B2B payments.

“Embedded B2B payments are projected to handle $16 trillion in transactions by 2030. That number is less a forecast than a flashing neon signal to corporate finance leaders,” that report said. “Once a niche integration, embedding payments directly into enterprise workflows has emerged as a strategic imperative for companies facing competitive, operational and technological pressures.”

Research by PYMNTS Intelligence — from the July 2025 Accounts Payable Tracker® Series, “Embedded B2B Payments: The Next Frontier in AP Digitization” — shows that the path to realizing this value is increasingly tied to platform-native integration, operational transformation and monetization potential.

“The embedded B2B payments decision is not purely technological,” PYMNTS added. “It’s a strategic posture that touches customer and supplier experience, working capital, risk management and even talent allocation.”