The acquisition is part of Paysafe’s investment strategy to expand in North America after significant growth opportunities, especially in the SMB sector. This latest investment builds on Paysafe’s 2017 acquisition of Merchant Choice Payment Solutions, a payments provider for SMBs.
The integrated payments platform seeks to bring merchants, partners, consumers and platforms more product choice. Its services will include point of sale solutions, order ahead purchases and payments, and online payment products.
Todd Linden, CEO of Paysafe’s North American Payment Processing Division, will lead the merged payment processing organization after the acquisition closes. OB Rawls IV, CEO and President of iPayment, along with iPayment CFO, Robert Purcell, will both remain with the organization as members of Paysafe’s payments leadership team.