Payroc is a payments technology company providing omnichannel commerce solutions, payment processing, point-of-sale systems, and integrated payment capabilities for businesses across multiple industries and international markets. Pulse 2.0 interviewed Payroc Co-Founder and President Adam Oberman to learn more about his entrepreneurial background, the company’s origins, payment technology solutions, acquisition strategy, financial milestones, competitive advantages, and future growth ambitions.
Adam Oberman’s Background
When asked about his background and how he entered the payments industry, Oberman shared:
Payments found me through my dad, who worked for a large processor. I started out in risk and underwriting, reviewing transactions, then moved into collections.
After a couple of years of that, I joined my brother in sales and we started what eventually became Payroc. It was me, my brother, and our cousin, three guys knocking on doors trying to make a living. None of us had any idea it would turn into what it is today.
How The Idea For Payroc Came Together
Reflecting on the company’s beginnings and what motivated him to become an entrepreneur, Oberman recalled:
Honestly? I wasn’t loving what I was doing and wanted a shot at being my own boss. My brother, my cousin, and I saw a real opening to build something different.
Not just another payments company, but one that actually focused on people and doing things the right way. Customers responded quickly. Then family and friends started wanting in. It kind of snowballed from there.
Core Products And Features
Discussing Payroc’s core products and services, Oberman highlighted the company’s omnichannel commerce capabilities and leadership in unattended payments:
There’s a lot to cover! We offer a full range of omnichannel commerce solutions, gateways, point of sale, terminals, the works. Our gateway and in-store POS solution just won a major international award, which we’re really proud of.
We’re also deep in unattended payments, EV charging, parking, vending, car washes, you name it. With over 107,000 unattended terminals processing 65 million transactions a year, we’ve become the leaders in that space.
On top of that, we have partner programs that give our ISO agents a straightforward, lucrative way to grow with us. Bottom line, whatever way a business wants to take a payment, we’ve got a solution for it.
How Payroc’s Technology Has Evolved
Looking back at how Payroc’s technology has evolved since launching, Oberman described the company’s transformation from selling payment terminals to delivering integrated solutions internationally:
Night and day from where we started. We were selling credit card terminals door to door, that was it.
Now we have multicurrency capabilities, global reach, and software that lets us deliver truly integrated solutions at an international scale. Payments never stops changing, and that’s kept us on our toes.
But today we have the technology and the expertise to make sure we’re always putting the best solutions in front of the businesses we serve.
Significant Company Milestones
When asked about Payroc’s most significant milestones, Oberman pointed to the company’s processing volume and its acquisition of Integrity Payment Systems:
There are plenty I could point to, like the first time we hit $100 billion in annual card volume.
But the one that really stands out to me is the acquisition of Integrity Payment Systems in February 2018. That’s the moment Payroc went from being an ISO to a full processor and acquirer.
It opened the door to a whole wave of acquisitions after that, which let us build out our technology stack and expand internationally. That deal changed the trajectory of the company.
Funding And Financial Partnerships
Addressing Payroc’s funding sources and financial partnerships, Oberman emphasized the role of its private equity partner in supporting the company’s expansion:
Our funding has come from a mix of places including the founders, banking partners, and Parthenon, our private equity partner.
Bringing Parthenon on has been a real accelerant for us. They’ve helped us push to that next level in ways we probably couldn’t have gotten to as quickly on our own.
Total Addressable Market
When asked about the total addressable market Payroc is pursuing, Oberman characterized the opportunities across its diverse payment processing verticals:
It’s massive. There are so many different verticals we play in.
We’re a pretty big fish at this point, but the pond is enormous and there’s still a ton of runway ahead of us.
What Differentiates Payroc From Its Competition
Describing what distinguishes Payroc from competing payments technology providers, Oberman underscored the company’s people-first culture and commitment to its customers:
We’re a people first company, full stop. We say what we’re going to do and we do it.
We’re creative and we move fast. When we lock in on solving a problem for a customer or partner, we get it done. That’s not something you can fake over time.
Future Company Goals
Outlining Payroc’s future goals, Oberman expressed the company’s ambition to become one of the leading integrated payments providers while preserving its founding values:
We want to be a top three integrated player in this industry. When a company is looking for an integrated payments solution, we want Payroc to be one of the first names that comes up, and that’s a big goal for me personally.
Just as important, we want to stay true to what built this company. That means keeping our ear to the ground with our partners and customers, listening to what they need, and responding no matter how big we get.
