Global payment firm Payroc WorldAccess has announced the acquisition of Worldnet, a provider of payment solutions for independent software vendors (ISVs).

“The addition of Worldnet complements our existing products and brings additional payment facilitation capabilities to our team,” Payroc’s Chief Executive Officer, James Oberman, stated.

He added that the acquisition will drive more value to developers and partners, ensuring more flexibility in the payments industry.

Payroc To OfferA Global Platform For Worldnet’s Expansion

Worldnet offers an integrated payments gateway platform that offers Software-as-a-Services and ISV clients what is called “white-labeled, global payment facilitation infrastructure.” The company was founded in 2007 and has operational headquarters in Georgia.

Payroc is headquartered in Illinois and offers its payment services to over 110,000 merchants in 40 countries. It offers different financial services such as underwriting, risk management, application programming interfaces (APIs), and global device connectivity.

Chief Executive Officer of Worldnet John Clarke stated that the team is ready to enter the next chapter of the Worldnet’s story because developers and ISVs need to have a better way of integrating payments into their software.

He added that Payroc is providing that platform that will enable the firm to deploy its state-of-the-art technology on a global scale. Clarke says Payroc is offering the global platform for Worldnet to reach a much larger scale. It will also help to unify their payment channels in a single platform.

Worldnet’s mobile solutions will offer an all-encompassing payment platform for developers and consumers. According to Payroc, payment equity firm Parthenon Capital assisted in the completion of the acquisition process.

Payroc Continues To Expand Operations

Payroc has been busy in the market lately as it continues to expand its operations through various acquisitions. Last year, Payroc partnered with the electronic payment processing firm Dynamics Solutions. The collaboration enabled the firm to expand its operations to Puerto Rico, paving the way for its expansion to the Caribbean and Latin American markets.

In January, the company completed the acquisition of East Commerce Solutions, a merchant service that takes care of yearly processing volumes of more than $2 billion.

Payroc will be taking advantage of Worldnet’s extensive experience in the global payments technology sector to expand its operations and capacity.