back Back

Payroc acquires Canada-based SterlingCard to offer card-present solutions

By Gloria Mathias

February 07, 2024

  • Canada News
  • card-present solutions
  • Cards Solutions
Share

Payroc, SterlingCard Payments, Fintech news, Fintech Acquisition, FINtech Canada News, Canada News, Global Fintech News, Cards Solutions, Payroc WorldAccess, LLC (Payroc), a global payments solution, has announced the successful acquisition of SterlingCard Payment Solutions Inc., based in Markham, Ontario.

SterlingCard Payment Solutions Inc. (Sterling) has gained momentum in the payment solutions sector, specialising in advanced payment solutions for retail, B2B, and e-commerce platforms. With a 25-year history, Sterling has served industries ranging from restaurants, retail, health & beauty, and speciality grocers, to medical.

The acquisition positions Payroc as a powerhouse in the Canadian payment solutions landscape, immediately providing a card-present solution. This move significantly enhances Payroc’s existing Canadian offering, complementing Caledon’s established enterprise card-not-present and ACH/PAD capabilities, and positions Payroc for larger distribution globally, amplifying its impact in the dynamic and evolving payments landscape.

“We are thrilled to welcome Sterling into the Payroc story,” said Marcus Dagenais, President of Payroc Canada. “This acquisition marks a key strategic milestone for our business in Canada, one we have been evaluating and pursuing for several years now. Complementing our enterprise card-not-present and ACH/PAD capabilities, we now have best-of-breed solutions for all card-present and retail environments. I must acknowledge the outstanding work of Janice Conry & team, as well as share our genuine excitement for working alongside them in this next chapter.”

Janice Conry, the current CEO of Sterling, will join the Payroc team in Canada, focusing on expanding Sterling’s current inside sales and external agent channels.

“Joining forces with Payroc is an exciting step forward for Sterling,” said Janice Conry, CEO of Sterling. “Our shared commitment to client satisfaction and innovation will undoubtedly propel us to new heights. I look forward to contributing to the continued success of Payroc in Canada and globally.”

Jim Oberman, CEO of Payroc, stated, “The leadership at Sterling has been instrumental in their success, and Janice Conry’s 40+ years of experience has significantly contributed to Sterling’s rapid success. This strategic move positions Payroc uniquely with an exceptional card-present offering in Canada, providing a substantial competitive advantage over most other ISOs and agents. We are confident that this strategic acquisition will further propel Payroc’s growth and success in the dynamic payments landscape.”

Previous Article

February 07, 2024

UnionPay International joins Spring Airlines to boost travel payment experience

Read More
Next Article

February 07, 2024

Sprinque and Mangopay to enhance B2B marketplace payments

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Canada News

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

SWiM PAY launches new instant digital payments feature

Read More

Today

Mangopay & ManoMano simplify payments for marketplace sellers

Read More

Today

TechFini secures NPCI approval to offer UPI-based payment solutions

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024