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.