Stax Payments – a leading payment technology provider – recently announced its acquisition of Atlantic-Pacific Processing Systems (APPS), creating an end-to-end and seamless payment processing platform. And the integration of APPS marks a significant expansion of Stax’s technology stack, giving partners and merchants flexible and customizable options for their payment processing needs on one cohesive platform.
The APPS platform – which will be called Stax Processing, will serve as the foundational processing layer powering fintech offerings for ISVs, ISOs, and SMBs over time. And the new, frictionless, and end-to-end ecosystem will include enhanced multi-channel offering, improved data reporting, and additional customization capabilities. This significant expansion of Stax’s functionality debuts during the fourth quarter of 2023 with complete integration and additional planned developments throughout 2024.
With the acquisition, members of the APPS leadership team will join Stax to usher in a new era of all-in-one payment processing, with APPS CEO Abe Maghaguian moving to Stax as Chief Payments Officer, and Sarah Gerald, APPS COO, elevating to Chief Operating Officer of Processing at Stax. And Stax welcomes nearly 50 new team members from APPS to its broader team.
KEY QUOTES:
“Our partners and customers want a simple, secure, multi-channel payment experience, not only for themselves but for their end consumers. Through the acquisition of APPS, we have heightened our innovation capabilities and technology position, allowing us to create a bespoke payment experience for any merchant, ISV, ISO, or payment facilitator. I’m excited to lead a new era of growth for our employees, partners, and customers.”
— Paulette Rowe, CEO of Stax
“As the payment landscape becomes more complex, users are looking for a one-stop shop for all of their payment needs. This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform.”
— APPS CEO Abe Maghaguian
