FortisPay, a payment technology provider for businesses, developers and independent software vendors (ISV), has acquired Change Merchant Solutions and EpicPay, according to a press release emailed to PYMNTS.
The acquisitions will enhance FortisPay’s offerings to developers and ISVs, the release stated. Tech partners will be able to pick from several options while connected to one payment platform. They will be able to construct customized commerce experiences via integrated application programming interfaces (APIs), a large suite of reporting and go-to-market resources.
With the acquisitions, FortisPay expands its influence in the sphere of nonprofit markets, boosting its specialty hospitality business, the release stated. The companies will integrate in the coming months.
Change Merchant Solutions has leveraged the FortisPay proprietary platform, Zeamster, to boost its reach for ISVs, letting them add new software partners and create better relationships with existing clients, the release stated.
Payment facilitator (PayFac) EpicPay provides integrated payments that the release touted as being flexible, secure, reliable and seamless. EpicPay’s combining with FortisPay’s Zeamster gateway will produce a full-service solution, spanning point of sale (POS), card-not-present and mobile acceptance.
FortisPay Executive Chairman Greg Cohen said in the release that the new acquisitions will “transform the way software companies integrate not just payments but a full commerce stack into their platforms.”
“The ability to offer segment-specific payment solutions, rapidly board new merchants and provide an advanced service experience will define tomorrow’s leaders in the payment industry; and FortisPay is ready for that,” he said in the release.
Payment modernization has been accelerating as of late. Domenico Scaffidi, head of Market Infrastructures for FinTech software maker Volante Technologies, told PYMNTS that cloud technology has achieved a new level of maturity in which there is no longer a lack of trust in security or bandwidth for banks.
The pandemic has had a part in that. According to Scaffidi, the reduction of cash use came about because people were afraid of contracting the virus, and it will likely lead to long-term consequences.