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

By Gloria Mathias

February 07, 2024

  • Canada News
  • card-present solutions
  • Cards Solutions

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.”

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