The acquisition of SterlingCard positions Payroc as a powerhouse in the Canadian payment solutions landscape, immediately providing augmented card-present solutions. This strategic move not only significantly enhances Payroc's existing Canadian offering, complementing Caledon's established enterprise card-not-present and ACH/PAD capabilities, but also positions Payroc for larger distribution globally, amplifying their impact in the dynamic and evolving payments landscape.
Officials from Payroc said that this acquisition marks a key strategic milestone for their business in Canada - one they have been evaluating and pursuing for a while now. Complementing their enterprise card-not-present and ACH/PAD capabilities, they now have new solutions for all card-present and retail environments. Additionally, Payroc can provide a substantial competitive advantage over most other ISO/Agents. They are confident that this strategic acquisition will further propel Payroc's growth and success in the dynamic payments landscape.
Executives from SterlingCard noted that joining forces with Payroc is an exciting step forward for them. Their shared commitment to client satisfaction and innovation will propel them to new heights. They look forward to contributing to the continued success of Payroc in Canada and globally.
In January 2024, Payroc has introduced PayByCloud, a low-code semi-integrated solution designed for Independent Software Vendors (ISVs), aiming to simplify omnichannel payment integrations. This cloud-based connection facilitates transactions between Payroc's application and its gateway, streamlining the process for partners. PayByCloud eliminates the need for extensive software integration investments typically required by ISVs. Integrated with Payroc's existing functionalities, it enables ISVs to monetise payments within their platforms, fostering business growth.
The solution underscores Payroc's commitment to innovation in the dynamic market landscape. Payroc's partners can leverage PayByCloud across the US and Canada, with support for various devices. Additionally, ISVs operating internationally in the UK can utilise PayByCloud for simplified payment processing. The launch reinforces Payroc's dedication to providing enhanced solutions, empowering ISV partners to meet evolving customer needs and achieve expansion goals.
Payroc WorldAccess is a high-growth merchant acquirer, processor, and payment integrations powerhouse processing more than USD 80 billion in annual transaction volume in over 45+ markets, for more than 151,000 merchants. Payroc WorldAccess, through its subsidiaries, offers sales enablement and payment processing technology on a global scale, delivering proprietary, innovative, and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc (through its subsidiaries) is a registered Visa third party processor, Mastercard third party servicer, payment facilitator and encryption support organisation for Fifth Third Bank, National Association (‘Fifth Third’), and in Canada is registered with Peoples Trust Company, Vancouver, Canada among many others.
SterlingCard is a payment solution provider for both retail and e-commerce applications—a Canadian entrepreneurial-based company committed to offering their customers the latest technology while maintaining a service-oriented focus. With over 25 years of industry experience, SterlingCard Payment Solutions provides a full suite of in-store and online payment solutions.
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