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December 9, 2021Blog Posts

Fortis Fortifies Its Position With ISVs Via Its Acquisition of VIP Integrated Payments

Digital Transactions

Fortis has proven in recent months to be one of the country’s most active payments providers when it comes to extending capabilities for independent software vendors, and now it has expanded further in that business with its acquisition of VIP Integrated Payments in a deal announced Wednesday. Terms were not released.

Novi, Mich.-based Fortis, which in October changed its name from Fortis Pay, sees in Lakewood, Wash.-based VIP an opportunity to add on further capabilities in the valued-added reseller business in particular. In this highly competitive channel, providers can weave in payments capabilities for resellers of business software.

“We are thrilled that VIP’s exceptional team and array of solutions will become part of the Fortis family,” Greg Cohen, Fortis’s chief executive, said in a statement. “Joining forces means both organizations will continue to expand on the exceptional service they are already known for.”

Fortis does not release absolute numbers, though Cohen told Digital Transactions News in October volume is now “well north of $15 billion,” with a merchant base of some 20,000 businesses, with many in the health-care, specialty retail, and business-to-business categories. That volume would rank Fortis among the top 40 merchant acquirers in the country, according to data from The Strawhecker Group. The company says that in the past few months it has entered the Canadian market and introduced more than a dozen integrated software partnerships.

Fortis
Fortis

Source

TSG’s Directory of U.S. Merchant Acquirers, sponsored by FIS, is the most comprehensive report available on U.S. merchant acquirers, featuring over 8,500 data points on more than 325 companies; covering national leaders to regional ISOs.

The Directory includes a printable snapshot providing a quick reference guide for executives to review merchant portfolio statistics. Additionally, high growth acquirers that reported 10% or more growth in volume, transactions, or merchants from 2019-2020 are identified.

No other industry directory contains the level of detail provided, which is why it is utilized as a reference tool by major media and payments players worldwide.

Download a preview | Subscriber? Download here.

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