Fee expertise supplier Stax Funds in the present day introduced its acquisition of Atlantic-Pacific Processing Programs (APPS), creating an end-to-end, seamless fee processing platform.
The combination of APPS marks a big enlargement of Stax’s expertise stack, giving companions and retailers versatile, customizable choices for his or her fee processing wants on one cohesive platform.
“Our companions and prospects need a easy, safe, multi-channel fee expertise, not just for themselves however for his or her finish customers,” mentioned Paulette Rowe, CEO of Stax. “By means of the acquisition of APPS, we now have heightened our innovation capabilities and expertise place, permitting us to create a bespoke fee expertise for any service provider, ISV, ISO, or fee facilitator. I’m excited to guide a brand new period of progress for our staff, companions, and prospects.”
The APPS platform, which might be known as Stax Processing, will, over time, function the foundational processing layer powering fintech choices for ISVs, ISOs, and SMBs. The brand new, frictionless, end-to-end ecosystem will embrace enhanced multi-channel providing, improved information reporting, and extra customization capabilities. This vital enlargement of Stax’s performance debuts throughout This autumn 2023, with full integration and extra deliberate developments all through 2024.
By means of the acquisition, members of the APPS management workforce will be a part of Stax to usher in a brand new period of all-in-one fee processing, with APPS CEO Abe Maghaguian transitioning to Stax as Chief Funds Officer, and Sarah Gerald, APPS COO, elevating to Chief Working Officer of Processing at Stax. Moreover Stax welcomes practically 50 new workforce members from APPS to its broader workforce.