Paystone Acquires Canadian Payment Services, Making Paystone Canada’s Largest Independent Banking Provider | Business

LONDON, Ontario–(BUSINESS WIRE)–January 26, 2022–

Paystone announces the acquisition of Canadian Payment Services (CPS), one of Canada’s fastest growing merchant services providers. The acquisition is the sixth addition to Paystone’s growing acquisition portfolio, having acquired five other companies over the past two years, including Montreal-based DataCandy and Vancouver-based NiceJob.

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CEO Tarique Al-Ansari outside Paystone’s head office in London, Ontario. (Photo: BusinessWire)

“This is our biggest acquisition to date in terms of new revenue and new customers,” said Tarique Al-Ansari, CEO of Paystone. “In addition, we are also excited to provide additional value to CPS merchants through Paystone’s exclusive product and service offerings.”

In addition to providing payment processing services, Paystone offers a wide range of SaaS products including Gifts and Loyalty, Reputation Marketing and Marketing Automation.

“Over the years, Paystone has demonstrated a strong commitment to serving Canadian small and medium-sized businesses,” notes Simon Lobanov, Managing Director at CPS. “We are pleased to entrust our customers to Paystone so that they can continue to receive the highest level of customer service and can grow their business with new value-added products exclusive to Paystone. »

With the acquisition of CPS, Paystone now serves more than 35,000 locations in Canada and the United States that collectively process more than $10 billion annually in bank card volume. As Paystone continues to aggressively grow in services, offerings and revenue, the company is looking to hire over 100 new employees by the end of 2022.

About Paystone

Paystone is a leading North American payments and software company redefining the way merchants engage customers and grow their businesses. The company’s seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions and now reputation marketing is used by brands including Irving Oil, The Source, Global Pet Foods, Kernels Popcorn and many restaurant brands from the MTY Food Group. . Paystone’s solutions are used in more than 35,000 locations in Canada and the United States that collectively process more than $10 billion annually in bank card volume. The fintech employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America.

About Canadian Payment Services

Canadian Payment Services (CPS) is one of Canada’s fastest growing merchant services providers, which includes credit card and Interac processing, gift and loyalty card programs and business cash advances . With over 55 years of combined experience in the merchant services industry, CPS has served over 10,000 merchants.

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Victor Tang




SOURCE: Country Stone

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PUBLISHED: 01/26/2022 10:00 a.m. / DISK: 01/26/2022 10:02 a.m.

Copyright BusinessWire 2022.

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