10/10/2024

Payroc Completes Acquisition of i3 Verticals’ Merchant Services Business

Payroc now processes more than $115 billion of annual processing volume

Recently, Payroc, the payments platform built for partners, completed its acquisition of i3 Verticals' merchant services business. This strategic acquisition, first announced in June of 2024, strengthens Payroc's capacity to provide comprehensive payment solutions to a broader range of partners and merchants.

Payroc now processes more than $115 billion of annual processing volume for approximately 190,000 merchant customers across the United States, Canada, the Caribbean, the U.K. and the EU.

"We are thrilled that this transaction has closed," said Jim Oberman, Payroc's chief executive officer. "i3’s merchant services business is an ideal fit for Payroc, and I am especially eager to meet those i3 team members and i3 partners who join us on our journey."

The integration of i3 Verticals' merchant services business into Payroc's feature-rich payment platform brings together two innovative companies dedicated to providing industry-leading solutions. Both organizations share a commitment to delivering exceptional customer service, cutting-edge technology and tailored payment processing that drive business' growth.

This acquisition creates a powerhouse of payment solutions that cater to a diverse range of industries, from retail and hospitality to healthcare and unattended verticals.

"The Payroc team and I are looking forward to continuing to strengthen not only our distribution capabilities and software solutions, but also our place in the market with the acquisition of i3 Verticals' merchant services business," said Adam Oberman, Payroc's president "It feels good knowing we are joining forces with a business that aligns with our goals, values, and vision."

By combining the strengths of both organizations, Payroc is well-positioned to accelerate seamless payment experiences and enrich long-standing partnerships.