It was recently announced that Payroc acquired Atlantic Merchant Services through one of its subsidiaries in a strategic move that underscores its commitment to growth and expansion. This significant development bolsters Payroc’s ongoing growth strategy while enhancing the potential of the newly acquired Atlantic Merchant, a reputed merchant processing organization and businesses.
In a press release issued on May 10, the companies revealed that the acquisition aligns with Payroc’s objectives and promises to bring a host of advantages to Atlantic Merchant’s partners and clients. Payroc CEO James Oberman highlighted the synergy, stating that Atlantic Merchant’s merchants and the partners stand to gain from Payroc’s innovative payment technology capabilities, in-house payment processing capabilities, and dedicated support team, which will further fortify their existing strong relationships.
Let’s look at the details of this acquisition and its implications for Payroc, Atlantic Merchant Services, and the broader payments industry landscape.
Payroc WorldAccess, LLC, known as “Payroc,” a prominent global player in the payments industry, has officially disclosed its acquisition of Atlantic Merchant Services, LLC, often referred to as “Atlantic Merchant.” Based in Raleigh, North Carolina, Atlantic Merchant is a comprehensive merchant processing firm that has now become part of one of Payroc’s subsidiaries.
Atlantic Merchant has established itself as a leading provider of merchant processing solutions, catering to businesses and organizations in the mid-Atlantic region and extending its reach beyond. With dedicated and seasoned sales partners covering a wide spectrum, including North Carolina, South Carolina, Virginia, Maryland, West Virginia, Tennessee, Michigan, and Texas, Atlantic Merchant’s capabilities are extensive. These proficient sales partners boast an impressive average of over 15 years of experience in the card and payment industry.
Atlantic Merchant collaborates closely with the Company’s network of financial institution referral partners to deliver state-of-the-art, cost-effective payment technology solutions to merchants. These solutions are designed to streamline business operations, enhance the customer experience, and drive improved profitability. This strategic union signifies a significant milestone in the world of payment technology.
The collaboration between Payroc and the Atlantic Merchant also offers a unique blend of experience and reach. Moreover, this partnership allows Atlantic Merchant Services to tap into Payroc’s cutting-edge technologies, global reach, and an expanded range of payment solutions, positioning them to compete effectively in a broader landscape of payment companies. Co-founders Bill Baker and Jerry Savage expressed their enthusiasm about this new relationship, emphasizing the added opportunities it brings for their merchants and community bank partners.
This latest acquisition builds upon Payroc’s recent momentum in the payments industry as it continues its strategic approach to growth through mergers and acquisitions. Payroc had previously acquired payments platform provider Worldnet in April 2022. With an unwavering focus on expansion and innovation, Payroc, guided by its leadership and partner Parthenon Capital, is committed to maintaining the values that have always been at the heart of its business—a ‘family-style’ approach that values relationships and technology to foster growth.
James Oberman, CEO of the company Payroc, expressed his tremendous enthusiasm regarding the deal with Atlantic Merchant. He commended Bill and Jerry for their exceptional leadership in the payments industry. Furthermore, he highlighted the value of their extensive network of sales partners and the highly skilled customer service professionals within their team, emphasizing how seamlessly they fit into Payroc’s growth strategy.
Oberman pointed out the significant advantages this union brings to Atlantic Merchant’s referral merchants and partners. They can now tap into Payroc’s distinctive payment technology, benefit from in-house processing capabilities, and receive support from a team with considerable experience. This collaboration solidifies already robust relationships. Oberman also extended a warm welcome to Bill, Jerry, and the entire Atlantic Merchant team as they joined the Payroc family.
As one of the most trusted companies in the US, Payroc empowers businesses with versatile, on-the-go payment solutions available anytime and anywhere. You can rely on them as trusted advisors with extensive expertise in payments, ensuring transparent pricing and fostering personal relationships while providing top-notch integrated payment technology.
Image source: Payroc
This privately held payment processor with various services to offer, established in 2003, Payroc serves over 151,000 merchants and processes more than $80 billion in yearly card volume. Furthermore, Payroc, through its subsidiaries, is the registered third-party Visa processor, Mastercard’s third-party service provider, and a reputed payment facilitator; along with this, Payroc acts as an encrypted support provider for some organizations like the Fifth Third Bank, a National Association. In Canada, they are registered with a company called the Peoples Trust in Vancouver, among other affiliations.
Back in September 2016, Payroc expanded its network by acquiring iTransact. This strategic move led to the establishment of a second office located in Utah, thanks to the newly acquired iTransact. Two years later, in 2018, Payroc took another significant step by acquiring Integrity Payment, thereby broadening its range of payment solutions. Fast forwarding 2020, Payroc made yet another noteworthy acquisition, this time bringing Bluestone Payments into its fold. These series of acquisitions reflect Payroc’s commitment to enhancing its offerings and presence in the payment solutions landscape.
To cater to your specific processing needs, Payroc leverages the extensive networks of four major card processing platforms in the U.S., including Vantiv, TSYS, First Data, and PaymentTech. Based in the Chicagoland area, Payroc is your dedicated partner in driving commerce for your business.
Atlantic Merchant offers cutting-edge payment technology solutions that drive business revenue and reduce operational costs. Their team of seasoned local sales professionals is at your service, offering guidance and training to ensure that their products are user-friendly and easy to grasp. These solutions do more than just streamline your business operations; they elevate your customers’ experience. Whether you require a touch-screen point-of-sale system, a mobile payment device, a back-office online terminal, or an e-commerce solution, Atlantic Merchant has got you covered.
Image source: Atlantic Merchant Services
Headquartered in Raleigh, NC, Atlantic Merchant Services operates as a full-service merchant processing company. Since its establishment in 2005, Atlantic Merchant has held the forefront in providing merchant processing solutions to Financial Institutions and their business clientele. With local sales and service representatives in 8 states, they are always within reach.
Their expertise lies in delivering value-added solutions that facilitate invoicing, integrate seamlessly with accounting, exert control over inventory, and efficiently manage interchange costs for B2G/B2B enterprises. Every product and service they offer is tailored to meet the unique needs of your business and has stood the test of time and evolving technology. Committed to their mission of catalyzing the growth of entrepreneurs and businesses, Atlantic Merchant Services’ solutions fortify relationships and your bottom line.
The deal of Atlantic Merchant Services by Payroc WorldAccess marks a significant milestone in the payments industry. This strategic move reflects Payroc’s commitment to growth and expansion, and it promises to bring numerous advantages to Atlantic Merchant Services, its referral partners, and its merchants.
The union of these two entities combines Payroc’s innovative in-house payment processing and experienced support team with Atlantic Merchant’s extensive network of sales partners, payment technology capabilities, and deep expertise in the card and payment industry. This collaboration positions Atlantic Merchant Services to compete effectively on a broader scale, offering a wide range of payment solutions to businesses and organizations in the mid-Atlantic region and beyond.
The acquisition reinforces Payroc’s dedication to maintaining a ‘family-style’ approach that values relationships and technology to foster growth. Under the leadership of CEO James Oberman, Payroc continues to focus on expansion and innovation, guided by its partner Parthenon Capital.
This partnership between Payroc and Atlantic Merchant Services holds great promise, benefiting all parties involved, and it’s a testament to the ever-evolving landscape of the payments industry. As Payroc and Atlantic Merchant Services come together, they are set to provide enhanced payment solutions, streamlined business operations, and improved profitability for merchants and businesses across multiple states, further solidifying their positions in the payments industry.
Jim Oberman serves as the CEO of the company. He is responsible for driving the company’s strategic initiatives and long-term enterprise development, bringing extensive expertise in electronic payments and over 30 years of experience as a senior executive and entrepreneur in the payments industry.
Payroc is a rapidly expanding multinational payments platform, merchant acquirer, and processing powerhouse, handling an annual volume of over $80 billion for more than 151,000 merchants.
Atlantic Merchant offers a diverse range of services, including touchscreen point-of-sale solutions, countertop terminals, smartphone applications, invoicing, accounting integration, and inventory control. These services are designed to help businesses manage interchange costs affordably.