Pay360, an enabler of card payments and other transactions based in the UK, has officially been acquired by the payments division of business management software provider Access, which wants to strengthen its ability to meet heightened demand for digitised payments services.
Stephen Ferry, managing director for Pay360, expressed delight that his team would now be joining the Access PaySuite operation, whose portfolio includes an SaaS offering used by 5,000 commerce and not-for profit customers.
Now with Pay360 under its ownership, Access PaySuite expects to add card payments and PayFac (payments facilitation) to its services.
"It provides a strong platform for the company to grow and prosper further," Ferry said. "With complementary products and a shared vision, the acquisition will enable the enlarged payments division to really drive forward innovation and customer excellence to the benefits of our customer base."
Pay360 started more than 20 years ago and has grabbed a foothold in the UK payments market that includes the major high street brand WH Smith as well as local governance and healthcare bodies, and the Scottish social housing manager Wheatley Group.
As well as card payments, the product includes support for direct debits (a direct bank payments method often used to pay bills), as well as telephone billing, point of sale and mobile.
Andrea Dunlop, managing director of Access PaySuite, commented: "Pay360 joining Access PaySuite is further evidence of our commitment to invest in innovative payment solutions that give businesses and organisations the confidence that they have a credible, secure and scalable payments partner.
"As well as expanding our expertise and capability to enter new markets, Pay360 complements the Access Group’s existing footprint, and our customers across the public and private sector can take advantage of our enhanced, best-of-breed payments solutions."