back Back

Paystone acquires Canadian Payment Services

By Edlyn Cardoza

January 28, 2022

  • Canada
  • Canadian Payment Services
  • DataCandy

Paystone, Canadian Payment Services, DataCandy, NiceJob, SMBs, Canada, North American, USA, FinTech, Gift Card SolutionsPaystone announces the acquisition of Canadian Payment Services (CPS), one of the fastest-growing providers of Canadian merchant services. This acquisition is the sixth addition to Paystone’s burgeoning portfolio of acquisitions, having acquired five other businesses in the past two years, including Montreal-based DataCandy and Vancouver-based NiceJob.

“This is the largest acquisition we’ve made to date in relation to both new revenue and clients,” explains Tarique Al-Ansari, CEO at Paystone. “Additionally, we’re also excited to provide additional value to CPS merchants through Paystone’s proprietary product and service offerings.”

In addition to providing payment processing services, Paystone offers a wide range of SaaS products, including gift and loyalty, reputation marketing, and marketing automation.

“Over the years, Paystone has shown their great commitment to serve Canadian small and medium sized businesses,” remarks Simon Lobanov, Managing Director at CPS. “We are happy to turn our customer base to Paystone so they can continue to receive the highest level of customer care as well as be able to grow their business via new value added products proprietary to Paystone.”

With the acquisition of CPS, Paystone now services over 35,000 locations across Canada and the United States, which collectively process over 10 billion dollars a year in bankcard volume. As Paystone continues to aggressively grow in service, offering, and revenue, the business is looking to add over 100 new employees by the end of 2022.

Paystone is a leading North American payment and software company redefining how merchants engage their customers and grow their businesses. The company’s seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and reputation marketing is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many MTY Food Group’s restaurant brands. Paystone’s solutions are used at over 35,000 locations across Canada and the United States, collectively processing over 10 billion dollars a year in bankcard volume. The FinTech company employs more than 150 workers and serves as the technology partner of choice for hundreds of partners across North America.

Previous Article

January 28, 2022

Origin launches Instant-ISIN 2.0 driven by new Clearstream API

Read More
Next Article

January 28, 2022

Paytm Money introduces India’s first intelligent messenger for investments

Read More

IBSi Daily News Analysis


July 19, 2024


SMEs leverage cloud to gain competitive edge, study shows

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


5 FinTechs boosting Wealth Management in the USA

Read More


Coast raises $40m Series B to boost modern fleet payments

Read More


Digital wallet Kuady opens office in Bulgaria

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!
Get your copy now! IBSi Sales League Table 2024