**Editor’s Note: Please click here for a recap of the biggest channel-impacting merger and acquisition news from April and May.**
Global payment-processing provider Payscout has acquired Paywire, a provider of cloud services and mobile software that integrate with third-party systems, websites, hardware, SAP systems and processors.
As part of Payscout’s continued expansion, the acquisition will offer existing customers expanded payment processing technologies, including Paywire’s custom-built solutions for the education and health-care industries. Paywire’s tools consolidate payment and software systems to reduce the scope of compliance and enhance security.
Manpreet Singh, Payscout’s president and co-founder, tells Channel Partners his company is “always thinking of ways to add more revenue-generating opportunities for our channel partners, and that objective is one of the primary reasons we made this transaction.”
“The acquisition means our partners can leverage, either through resale or integrations, Paywire’s specialized solutions to serve merchants in the education and health-care verticals,” he said. “These business types often require custom-built solutions that integrate with the leading software providers in their respective fields, and Paywire has those integrations with key technology vendors.”
The acquisition also expands Payscout’s existing customer base, with new merchants in education, health care, and retail. Paywire technology, including Paywire applications in the Epic App Orchard marketplace, will be fully integrated under the Payscout umbrella.
“Epic is one of the leading providers of health-care software solutions, so this integration gives our partners a tremendous advantage when it comes to winning in this vertical,” Singh said. “Paywire does have existing channel partners, and their integration into our network was a primary objective. We initiated the process of assimilating Paywire’s partners before the announcement was made public. We’re now in the process of deepening those relationships, learning more about their opportunities and challenges, and developing strategies to grow together.”
The acquisition allows Payscout to deliver enhanced security for third-party integrations.
“We’re eager to join forces with Payscout, a visionary and powerful player in the payments space,” said Eric Schuler, Paywire’s president and founder. “I can’t think of a better home for our suite of solutions and look forward to watching this combined company become an even more formidable player in the payment-processing space.”