Priority Technology Holdings, Finxera plan to merge

Tuesday 9 March 2021 09:51 CET | News

Payments tech company Priority Technology Holdings and Finxera have entered into a definitive agreement to merge. 

Finxera is a pioneer in the fintech industry that launched and operated one of the first Banking as a Service (BaaS) platforms, and as per the agreement it will operate as a wholly owned subsidiary of Priority. The transaction is expected to close in Q3 of 2021.

Priority's omnichannel payments platform supports proprietary and third-party software applications built for businesses of any size. Its offering combines modern cloud infrastructure and operational expertise to deliver unparalleled Payment Infrastructure as a Service (PIaaS) to organisations with complex payment operation needs, including low friction merchant boarding, underwriting, risk management, and compliance monitoring. 

At the same time, Finxera's BaaS technology allows for the integration of banking services into business applications to establish and manage bank accounts for the collection, storage, and sending of money. When the agreement between the two companies is fulfilled, Priority will offer clients turn-key merchant services, payment facilitation, card issuing, automated payables, virtual banking, and e-wallet tools supported by its client service, risk management, underwriting, and compliance on a single platform.

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Keywords: merger, online payments, merchants, online banking
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce