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Payroc to acquire SnapCheck

Friday, December 03, 2021 — 13:29:48 (EST)

TINLEY PARK, ILL. (PRWEB) DECEMBER 02, 2021--SnapCheck, a multi-award platform for business payments modernization, today announced that it has entered into a definitive agreement to be acquired. The buyer is an investment group aligned exclusively with Payroc WorldAccess, LLC. By combining the transformative SnapCheck platform with Payroc’s ACHeck21 Fintech Cloud solution, the buyer foresees the emergence of an entirely new dimension in payments.

SnapCheck is a high speed, highly secure, and universally accepted solution dedicated to eliminating paper checks. Created as an open-ecosystem platform for paying anyone anywhere with the familiar form of a check, but without all the problems inherent in paper, the SnapCheck Digital Checking Platform gives businesses, banks, and consumers collectively the opportunity to save over $50 Billion a year in costs.

Sam Ackley, Managing Director of Payroc’s ACHeck21 division, stated: “We have worked with SnapCheck for several years, and together have brought to market a number of innovations that have provided significant savings and payments improvements for businesses across the country. We are impressed and fascinated by their technology, and see the SnapCheck Digital Checking Platform as the missing link to eliminating paper checks.”

Ken Kruszka, CEO of SnapCheck, added: “With a reach into over 40 countries, and serving over 100,000 merchants, Payroc offers a market access opportunity beyond our wildest dreams. Marrying together the SnapCheck platform with their already best-in-class payment processing technology will help springboard our mission to modernize business payments in the US and around the world. We’re excited about this new future together!”

Founded in 2015, SnapCheck has garnered a number of awards including:

Featured startup at Money2020 Selected as Best Payments API by API:World Recognized by KPMG as a Top 20 Global FinTech Startup Inducted into the BBVA Walk of Fame Chosen as a RedHerring Top100 North America Winner Named a Top Fintech Innovation Trend by NetGuru For more information on the acquisition, please contact ACHeck21.

About Payroc:

Payroc is a high-growth merchant acquirer, processor, and payment facilitation powerhouse processing $40 billion in annual charge volume in over 40 countries, for more than 110,000 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 is a registered Visa third party processor, Mastercard third party servicer, registered independent sales organization (ISO), payment facilitator and encryption support organization for Fifth Third Bank, National Association (“Fifth Third”), and in Canada is registered with Peoples Trust Company, Vancouver, Canada. To learn more, visit www.payroc.com.

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Source: Company press release. end of article

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