Payscout, one of the fastest growing privately held global payment processing providers in the U.S., today announced it has acquired Paywire, Inc., a leader in cloud and mobile software solutions that integrate with third-party systems, websites, hardware, SAP systems, and processors.
“Paywire’s entrepreneurial spirit and cutting-edge payment technologies are a natural fit for Payscout’s innovative culture,” said Payscout CEO and Co-Founder Cleveland Brown. “Their products mesh perfectly with our suite of virtual reality commerce and mobile payment processing solutions. We are thrilled to welcome them to the Payscout family.”
As part of Payscout’s continued expansion, the acquisition of Paywire will offer existing customers expanded payment processing technologies, including Paywire’s custom-built solutions for education and healthcare industries. Paywire’s tools consolidate payment and software systems to reduce the scope of compliance and enhance security. The acquisition also expands the company’s existing customer base, with new merchants in education, healthcare, and retail. Paywire technology, including Paywire applications in the Epic App Orchard marketplace, will be fully integrated under the Payscout umbrella.
“We’re eager to join forces with Payscout, a visionary and powerful player in the payments space,” said Paywire President and Founder Eric Schuler. “I can’t think of a better home for our suite of solutions and look forward to watching this combined company become an even more formidable player in the payment processing space.”
The acquisition was financed in partnership with one of the world’s largest banking and financial services organizations, HSBC, which will finance a series of additional upcoming Payscout partnerships and acquisitions.