Payroc acquires fintech solutions from BeanstalkFriday, June 25, 2021 — 13:25:30 (EDT)
TINLEY PARK, ILL. (PRWEB) JUNE 25, 2021–Payroc WorldAccess, LLC (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today the acquisition of the Beanstalk Payment Technologies debit payment routing intelligence, a cloud-based fintech application programming interface (API) that provides routing alternatives while also reducing the costs associated with debit card transactions.
Beanstalk’s intelligent routing technology evaluates various characteristics of a given transaction to identify the optimal, least-cost network across which the transaction could be routed. The solution’s routing intelligence can be integrated into e-commerce or point-of-sale software via API with transaction details and savings being monitored on Beanstalk’s dynamic analytics dashboard and reporting tools.
“Beanstalk Payment Technologies reinforces Payroc’s capabilities to provide industry leading cost-saving capabilities.” said Jim Oberman, Chief Executive Officer at Payroc. “Merging Payroc’s full-stack processing platform with Beanstalk’s debit routing intelligence solution will help merchants, payfacs, and independent software vendors reduce the costs associated with debit card transactions, while also increasing the rate at which these transactions successfully process. We couldn’t be more thrilled to welcome the Beanstalk team to the Payroc family.”
“Payroc continues to impress us with their partner-centric approach, long-standing payment expertise and strategic direction of organic growth and acquisitions,” said Donald Boeding, Chief Executive Officer at Beanstalk. “We’re excited to further develop the Beanstalk solution and suite of integrations, while contributing to Payroc’s broader integrated payments strategy and technology initiatives.”
Payroc is a high-growth merchant acquirer, processor, and payment facilitation powerhouse processing $33 billion in annual charge volume in over 40 countries, for more than 100,000 merchants. The company offers best-in-class sales enablement and payment processing technology on a global basis, delivering proprietary, innovative, and full-service merchant acquiring solutions together with key card brand network payment sponsorship registrations. Payroc, and certain of its other affiliate companies under Payroc WorldAccess LLC, are registered Visa third party processors, Mastercard third party servicers, registered independent sales organizations and merchant services providers (ISO/MSP), payment facilitators and/or encryption support organization for Fifth Third Bank, National Association (“Fifth Third”), among others, and in Canada is registered with Peoples Trust Company, Vancouver, Canada. To learn more, visit www.payroc.com.
About Beanstalk Payment Technologies:
Beanstalk’s technology makes it simple to route eligible ecommerce card transactions directly over the debit networks. Beanstalk offers a simple and secure REST API that will provide payment processors with a single point of integration to all of the major debit networks. The proprietary routing intelligence optimizes the routing of eligible card transactions to the debit networks. Beanstalk offers cost transparency to their clients via enhanced messaging and reporting that details the savings achieved by individual route decisions. Clients are empowered with the ability to override route decisioning through the use of precedence rules that they define based on their own business reasoning.
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Source: Company press release.