Jack Henry acquires Victor Technologies to boost embedded payments

By Vriti Gothi

Jack Henry & Associates, Inc., has acquired Victor Technologies, Inc., a cloud-native, API-first embedded payments solutions, from MVB Financial Corp.

This acquisition reinforces Jack Henry’s commitment to technology modernisation and strengthens its presence in the rapidly expanding Payments-as-a-Service (PaaS) market, where financial institutions deliver seamless payment services through non-bank and third-party brands. By integrating Victor’s proven, high-volume platform, which already processes billions of dollars in payments each month Jack Henry will empower banks and credit unions to serve FinTechs and commercial clients with greater speed, scale, and efficiency.

“This acquisition advances our technology modernisation strategy to help banks and credit unions compete and win through innovative, cloud-native solutions,” said Greg Adelson, President and CEO of Jack Henry. “Offering a proven, high-volume embedded payments platform that is highly scalable creates diverse revenue streams, enhances our capabilities, and provides more immediate opportunities to deliver emerging services like stablecoin.”

According to Research and Markets, the global PaaS market is projected to grow from $19.1 billion in 2025 to $43.9 billion in 2029, reflecting a compound annual growth rate (CAGR) of 23.1%. The acquisition positions Jack Henry to help its clients capture this growth opportunity while meeting evolving customer expectations.

Victor’s solution delivers real-time payment processing, virtual ledgering, and a broad suite of use cases across disbursements, receivables, cross-border transactions, escrow, title, and e-commerce. It supports advanced functionality such as virtual accounts and digital wallets, enabling financial institutions to manage payments with greater agility. Direct integration with Jack Henry’s core provides near real-time reconciliation, reduces overdraft risks, and establishes a single source of truth for money movement and compliance reporting.

“We’ve had a strong relationship with Jack Henry since our inception and are excited to join forces to expand the reach of our integrated, embedded payments platform,” said Maf Sonko, President of Victor. “With rapid innovation in areas like stablecoin, RTP/FedNow, and AI-driven commerce, speed and scalability are critical. Being part of Jack Henry will enable us to build on our successful growth and work together to accelerate the development of next-generation payment solutions.”