COLUMBUS, Ohio--(BUSINESS WIRE)--Payliance, a Columbus, Ohio-based leader in payment processing solutions, today announced it has acquired Secure Payment Systems (SPS), a Las Vegas, Nevada-based leading provider of payment processing solutions for small to national retailers, government, and service providers. The combined company will be headquartered in Columbus, Ohio. Linden Fellerman, President and Founder of SPS, will continue in that capacity, as he and John Cullen, CEO of Payliance, will work to combine the two organizations. The terms of the transaction were not disclosed.
With this transaction, Payliance expands its suite of payment processing solutions that help merchants improve operational efficiency, minimize risk, and accelerate the entire payment processing lifecycle so that merchants and lenders can focus on what they do best and be assured that they remain in full regulatory compliance.
"Acquiring SPS complements Payliance's current payment processing portfolio, expands our addressable market and product portfolio, diversifies our client base, and allows for several revenue synergies," said John Cullen, CEO of Payliance. "With SPS, we can continue to deliver the best payment processing, verification, and collections services to the merchant and lending communities we already serve. Current and future clients can expect significant benefits as a result of this transaction and only furthers our mission -- of helping - clients grow."
Founded in 2007, Payliance processes millions of transactions monthly with deep expertise in the lending, collections, E-commerce, and gaming industries. With years of experience in serving the changing needs of our clients, Payliance understands the unique compliance and risk management requirements that go beyond a traditional ACH or merchant services provider. Payliance is backed by Serent Capital, a private equity firm with offices in Austin and San Francisco focused on investing in high-growth technology and services businesses.
Founded in 1996 and processing over twenty billion dollars of payment transaction value annually, SPS is a leading provider of payment processing solutions for retail, wholesale, restaurant, T&E, corporate, and government entities across North America. SPS offers a full range of transaction payment processing, “Rent-To-Own” consumer payment options, account data validation, and risk management tools that allow clients to seamlessly accept payments quickly and confidently, pay vendors, or transfer funds at the point of sale or via the internet.
Payliance and SPS come together to create one of the most innovative providers of payment processing solutions in the industry. The combination of these two companies brings together complementary suites of products and deep industry knowledge and experience. Combined the company will serve more than 11,000 merchants, process more than 57 million transactions per year and facilitate more than 20 million card approvals and verification transactions to help merchants compete in a highly evolving financial technology market.
"We are thrilled to join an amazing team who, like us, works extremely hard to transform systems and processes that support the payments and lending ecosystem," said Linden Fellerman, President and Founder of SPS.