Atlantic-Pacific Processing Systems NV, Corp. (APPS), a fintech holding company providing technology and financial services solutions, has completed the acquisition of cloud-based software company Paynomix, LLC, making Paynomix a wholly owned subsidiary. Terms of the deal were not disclosed. Paynomix founder and payments wiz Brent Gephart will join APPS as its new chief information officer.
Paynomix will continue developing and implementing software-as-a-service (SaaS) payment solutions focused on helping businesses maximize customer interactions, streamline operations and drive revenues. This includes the company’s payment facilitation infrastructure platform; enterprise resource planning (ERP), customer relationship management (CRM) and accounting platform integrations with QuickBooks, FreshBooks, Xero, Sage and more than 40 retail, restaurant and hospitality systems; and a suite of semi-integrated, cloud-based payment terminals certified to all major processing platforms.
“Two key decision factors in acquiring Paynomix were the quality of their technology and their team of highly skilled payment experts,” said APPS President and CEO Abe Maghaguian. “With years of payment design, coding and implementation experience, Paynomix solutions and people will be able to seamlessly integrate into the APPS environment to continue fueling our rapid growth,” added Maghaguian. “We are pleased to welcome Brent and his team to APPS.”
Paynomix has spent the past 14 months designing, building and deploying a completely new version of its accounting ERP platform. Merchants now have a faster back to front of house SaaS payment solution where staff can accept payments online, over the phone or on a terminal, as well as send invoices via email or text. All payments are tied to their existing merchant account using virtually any payment processor.
“The entire Paynomix team is excited to join forces with APPS,” said Gephart. “Together, we have a bright future ahead of us,” added Gephart. “We are thrilled to be able to provide APPS’ customers with new and exclusive technologies of substantial value and look forward to playing an important role in growing our businesses together.”