B2B payment specialist PayTrace acquired by North American Bancard
US merchant gateway provider PayTrace has been acquired by North American Bancard (NAB). Financial details have not been released.
Spokane, Washington-based PayTrace is a B2B payment specialist and has been around since 2004. It claims 300+ resellers, 40,000+ merchant partners, and $43 billion settled in 2021.
Michigan-based NAB claims to be the US’s sixth largest independent acquirer. It processes more than $45 billion in transactions annually for merchants. It was set up in 1992 and has made a series of acquisitions over the years to flesh out its offerings and technology.
In the announcement, it is stated that PayTrace will become NAB’s preferred gateway solution for all merchant types.
One of the first steps for PayTrace within NAB is adding support for NAB’s Electronic Payment Exchange (EPX) network. EPX is NAB’s wholly-owned payment processor.