PAYA acquires card payment provider ITS
PAYA Group, an independent provider of card processing solutions to businesses in the UK, has acquired fellow UK paytech Interactive Transaction Solutions (ITS).
Trading under a common identity across the PayaCardServices, PayaCharity, LibertyPay and QixPay brands, PAYA provides a range of card acceptance services to organisations across numerous sectors, supported by in-house technology, online applications and portal customer support facilities.
ITS is a business-to-business (B2B) payment gateway providing a range of payment services to enable B2B digital payments. It’s been in the business for over 30 years.
The augmented group will benefit from the ITS payment gateway and the ability to perform its own acquirer and terminal accreditations through its PCI DSS certification.
Bill Thomson, CEO of PAYA, says the acquisition provides “assurance to customers that PAYA will be there to deliver service in the long term”.
ThinCats, an alternative lender to SMEs, has provided the financing for the deal. “It is great to support a growing and ambitious business like PAYA, whose work in the charity sector has had such a significant and positive impact,” comments Ben Kimball, director regional business development at ThinCats. The lender provides loans from £1 million to £15 million.