Ranging from news articles to recent CEO interviews.
On the heels of recent expansion for both Payscout and Advanced Payment Systems (APS), the two companies have decided to join forces through a Payscout acquisition of APS.
(Los Angeles,CA) October 17, 2015—Global payment processing provider Payscout has acquired payment processing solutions company Advanced Payment Systems (APS). Prior to the merger, Payscout and APS had been referral and processing partners for several years. The joint companies will now be ranked in the top tier of servicers for the receivables management vertical. “Payscout will respect the strong brand and reputation APS has developed,” said Payscout CEO Cleveland Brown, noting that the two companies can now jointly serve the receivables management industry more effectively.
The merger between Payscout and APS will provide additional resources for APS to continue with current and upcoming projects across the ARM/Receivables Management Industry, and will strengthen Payscout’s ability to provide quality payment solutions that encompass all merchant risk verticals for its growing clientele. Existing service programs will stay the same for APS customers and vendor partners.
“With this acquisition, we will be able to combine the talents of our companies in order to benefit our clients and partners,” Brown continued. “Not only will our ability to service our clients be strengthened, but this pairing will also strengthen each company’s offerings.”
“Payscout’s backing and support, plus the long time synergies between our executive teams will provide our merchants, sales offices, and partners increased benefit from our commitment to providing exemplary service,” said Jennifer Brummett, Vice President of APS.
The acquisition comes on the heels of expansions for both Payscout and APS. Payscout’s expansion was recently recognized by Inc. Magazine when the company placed #434 on the Inc. 500 list of the nation’s fastest-growing private companies. Payscout also ranked #24 in the national financial services category, with both distinctions placing the company near other ultra-high-performing national companies. The recent growth experienced by Payscout, which services small-to-medium-sized businesses (SMBs) and enterprise level customers, compelled the company to expand its U.S. offices and pursue a larger global footprint.
APS has also seen rapid growth in its core market within the receivables management industry. In the past six months, APS has launched the Reg E compliance feature of its IKEY Solution Suite, which offers flexible web payment options, contact management, data integration, and unlimited customization. The company also entered into an arrangement with one of the largest and best known creditors rights law firms to enhance its compliance program. APS credits its growth to providing unparalleled customer service, innovative products and highly competitive pricing.
“Culturally, APS and Payscout are a good fit for each other, and that was important to me,” said Gary Adams, founder and CEO of APS. “This transaction allows me to fully step away and retire while ensuring that APS will continue to thrive for customers and employees.”
With a primary mission of supporting the entrepreneurial dream one transaction at a time, Payscout is a global payment processing provider that supports the payment capabilities of merchants and financial service organizations. They provide direct connections to global, local and alternative payment methods, as well as financial institutions and card associations, to increase merchant acquiring and issuing capabilities. Payscout’s focus is to simplify the merchant and customer experience to ultimately reduce payment costs and improve conversions for global payment acceptance.
About Advanced Payment Systems:
Based in Douglasville, Georgia, APS has been offering payment processing solutions and legitimate merchant accounts to the receivables management industry for over 10 years and serves more than 700 receivables management agencies and related businesses. Available services include acceptance of credit and debit cards, ACH transactions, check conversion, and Health Savings Account cards. APS also offers several web payment options, ranging from a simple standalone portal, to debt negotiation with a friendly avatar, to fully compliant authorization technologies. For more information visit www.apsofga.com.