DALLAS--(BUSINESS WIRE)--The world’s largest processor of commissions and payment solutions provider for the hospitality and tourism industry today announced the company will begin operating under a new trade name and will be known as Onyx Payments. In April, H.I.G. Capital announced it had acquired the former Pegasus Financial Services to form an independently operated business.
Dallas-based Onyx Payments specializes in financial solutions for more than 40,000 hotels and 60,000 travel distributors worldwide. With more than 20 years’ experience in the industry, the company has provided its customers with exceptional services and proven solutions that will only be strengthened by this new identity.
“Onyx Payments embodies the spirit of our company by combining our foundation as a reliable and dependable partner with a renewed focus toward innovation and creativity,” said Mark Dubrow, president and CEO of Onyx Payments. “At the core of our new brand is a set of guiding principles that are the pillars of our success: employing the most talented industry professionals; providing valuable products and services for our customers; and centering our efforts with a sense of purpose and commitment.”
Onyx Payments has already begun making significant customer-impacting investments in development of new technologies, aligning with a state-of-the-art, cloud-based data center and developing world-class customer reporting tools. Additionally, the leadership team, including Dubrow, and most of the company’s employees remained intact after the transition. Since April, the company has increased its staff by nearly 40 percent, specifically in IT, application development and client-facing team members.
“It was important that we make this transition to Onyx Payments as seamless as possible for both our clients and internal team,” Dubrow said. “We’ve included our entire staff in the process, as well as many of our clients, and we’re thrilled with the outcome and new start for the company.”
The new official identity of the company was unveiled internationally today at the leading global travel industry event, the World Travel Market in London, England.
About Onyx Payments
Founded in 1992 and headquartered in Dallas, Texas, Onyx Payments is the world’s largest processor of payment disbursement and reconciliation solutions. Onyx Payments operates a global payment network and provides its hotel and travel agency customers with services including commission receipt and disbursement; foreign currency exchange; invoicing; and reconciliation and tracking. The company facilitates in excess of $500 million in payments annually, serving more than 40,000 properties, as well as the majority of travel distributors in more than 200 countries. In addition to Onyx Payments’ headquarters in Dallas, it has regional hubs in London, São Paulo, Singapore and Scottsdale, Ariz.