Stax Payments, a payment technology provider, announced its acquisition of Atlantic-Pacific Processing Systems (APPS), creating an end-to-end, seamless payment processing platform.
The integration of APPS marks “a significant expansion of Stax’s technology stack, giving partners and merchants flexible, customizable options for their payment processing needs on one cohesive platform.”
Paulette Rowe, CEO of Stax, said:
“Our partners and customers want a simple, secure, multi-channel payment experience, not only for themselves but for their end consumers. Through the acquisition of APPS, we have heightened our innovation capabilities and technology position, allowing us to create a bespoke payment experience for any merchant, ISV, ISO, or payment facilitator. I’m excited to lead a new era of growth for our employees, partners, and customers.”
The APPS platform, which will be “called Stax Processing, will, over time, serve as the foundational processing layer powering fintech offerings for ISVs, ISOs, and SMBs.”
The new, frictionless, end-to-end ecosystem will “include enhanced multi-channel offering, improved data reporting, and additional customization capabilities.”
This significant expansion of Stax’s functionality “debuts during Q4 2023, with complete integration and additional planned developments throughout 2024.”
Through the acquisition, members of the APPS leadership team will join Stax to usher in a new era of all-in-one payment processing, with APPS CEO Abe Maghaguian transitioning to Stax as Chief Payments Officer, and Sarah Gerald, APPS COO, elevating to Chief Operating Officer of Processing at Stax. Additionally Stax welcomes nearly 50 new team members from APPS to its broader team.
Maghaguian said:
“As the payment landscape becomes more complex, users are looking for a one-stop shop for all of their payment needs. This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform.”
Stax’s platform provides merchants and SaaS businesses the ability “to manage their payment ecosystem, analyze data, and simplify their customer experience through fully integrated solutions.”
The one-stop tool allows companies “to move faster, think smarter, and make better business decisions through the power of payments.”