skip to main content

TransactionWatch – Week of November 29th – December 3rd

Click here to read TransactionWatch | Subscribe to TransactionWatch

M&A momentum in the merchant acquiring industry continues to make headway as we enter into the final stretch of 2021. To kick things off, Stax (by Fattmerchant) announced this week of their acquisition of CardX, a leading surcharging platform in the U.S. This deal marks Stax’s third acquisition of the year as the company nears toward a 1,000% growth rate over the past three years. With this deal, Stax will be able to offer their merchant base of 22,000 the option for surcharging capabilities, essentially enabling them to accept card payments at no cost if enrolled into the service. Currently, CardX has 2,600 active customers that represent more than $1 billion in processing volume; and will continue to operate as a stand-alone brand alongside Stax. Separately, Payroc has announced their definitive agreement to acquire SnapCheck, a digital check payment platform, for an undisclosed sum. With this deal, Payroc aims to combine this new business with their existing ACHeck21 Fintech Cloud solution, which is built in part from their acquisition of ACHeck21 back in July of this year.

In other M&A news, last week Mastercard announced it has acquired Arcus FI, a provider of bill pay solutions and real-time payment applications for the Latin American region. With this deal, Mastercard intends to accelerate the growth of their Mastercard Bill Pay solution across the region. Prior to the acquisition, Arcus FI was a former member of Mastercard’s Start Path program.