Payment companies NXGEN International and Payscape aquire BluePay Canada. Combined, those three companies form a new financial technology company which operates in 46 countries and processes over $13 billion in payments.
According to internal sources from NXGEN, BluePay Canada makes payment services easy to independent software vendors (ISVs), allowing them to access world class accounts receivable and accounts payable.
BluePay is directly connected to the four major card networks (Visa, MasterCard, American Express and Discover) and can carry business-to-business, property management, education, leasing and financing, subscriptions and recurring billing transactions among other things. Product features include payment facilitator sponsorship, data tokenization, middle and enterprise market merchant acquiring, Level 2 and 3 data interchange management, pre-authorized debit processing and electronic funds transfer settlement (Canadian ACH), user-pay surcharging and white-label solutions.
Marcus Dagenais, head of BluePay Canada said “For myself and our team, this feels like a homecoming. We have closely watched the success of both Payscape and NXGEN over the years, so we are both excited and humbled to be included in this next chapter of growth with support from Parthenon Capital.” “This merger represents the next logical step in the company’s growth and expansion,” commented Zach Sadek, a partner with Parthenon Capital. “With this acquisition, we demonstrate our dedication and commitment to the international ISV space. We are quickly becoming North America’s most powerful payment facilitator platform,” said CEO Adam Bloomston.
“While significantly strengthening our Canadian presence, adding BluePay Canada’s ISV capabilities and relationships to the combined Payscape-NXGEN offering will enable software developers, resellers and integrators to deploy their solutions in 46 countries, and will reinforce our position as a unique player in the fintech world,” expressed Giuseppe Caltabiano, president of the combined company’s international business. “We are the leader in the space, able to provide both card-present and card-not-present solutions on a large geographical footprint.”