Quisitive signs agreement to acquire BankCard USA

By Pavithra R

Quisitive Technology Solutions, a premier Microsoft Solutions Provider, has announced entering into a stock purchase agreement to acquire BankCard USA Merchant Services for $100 mn in cash and the issuance of 50,000,000 common shares in the capital of Quisitive. The Transaction is also subject to TSX Venture Exchange and other necessary regulatory approvals.

“The addition of BankCard USA to the Quisitive Payments Solutions family will bring our vision to life by combining a high-powered sales organization, robust risk management, and quality customer service with our innovative fintech platform, LedgerPay. It is partnerships like these that elevate a great product to industry-wide transformation. I am proud to say that with the addition of BankCard USA, Quisitive Payments Solutions will have the team, the technology, and the strategic vision in place to redefine modern payments at scale,” said Quisitive CEO Mike Reinhart.

BankCard is an established all-in-one merchant payment services provider with over $3 bn of payment volume which increased 31% in 2020. The acquisition is expected to serve as a growth catalyst for Quisitive’s LedgerPay payment processing and payments intelligence platform.

“Bankcard USA is proud to join the Quisitive team and make an impact by integrating our go-to-market strategies and the strength of our sales organization with their fintech payments platform, LedgerPay, as it goes to market. We also bring a deep history in merchant services that will guide Quisitive Payments Solutions to take a white-glove approach, providing unique, high-value payment services to their customers, as Bankcard USA has for many years,” said BankCard USA CEO Shawn Skelton.

Founded in 2016, Quisitive is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate a transformational impact for enterprise customers.