Payrix Announces International Expansion as Digital Commerce Heats Up
BRISBANE, Australia, Oct. 8, 2020 /PRNewswire/ -- Payrix, the acknowledged leader in embedded fintech, today announced its official launch into Australia and New Zealand - as it completed the acquisition of Brisbane-based payment service provider, IntegraPay. The company's expansion efforts will remove barriers, boost revenue and accelerate money movement for a network of growing software-as-a-service (SaaS) clients with operations overseas.
As more vertical SaaS providers turn to embedded commerce to innovate their product, grow revenue, increase lifetime client value and build enterprise value - Payrix continues to demonstrate a laser focus on client success and demonstrate what it takes to reimagine the digital payments ecosystem, again and again.
A digital payments trailblazer in infrastructure-as-a-service technology, Payrix is obsessively client focused, determined to fuel stickiness and monetization for vertically-focused SaaS providers. On the heels of the company's recent Series A extension, this merger positions Payrix as one of few truly independent payment technology providers supporting its clients as part of a global strategy, and will add an additional $1.75B in processing volume to the Payrix Platform.
"We've listened to our clients and many have exciting plans to expand globally - it became clear we needed to eliminate blockers that were holding them back," said Payrix CEO, Eric Frazier. "We believe IntegraPay's market-leading technology, customer-centricity and local presence will deliver the seamless user experience and growth results our clients need to scale smart."
Operating in Australia, New Zealand, the United States and the United Kingdom, IntegraPay is the region's leading independent payment services provider, processing more than a million transactions a month and delivering flexible solutions, local service and innovative technology to over 5,000 clients.
"We are delighted to have found a partner that shares both our growth ambitions and core values for serving clients," IntegraPay CEO, John De Stefani said.
The opportunity to monetize payments for growth today with global reach tomorrow is what attracted SaaS leaders like OpusXenta - Australia-based SaaS funeral management platform - and Storable's best-in-class tech brand in self-storage, to partner with Payrix.
"I wanted to help my customers accept payments, but also grow my company in the right way - thinking about my growth today, and tomorrow. Payrix's vision for expansion matched our plans, so it was the perfect fit," said Tony Lorge, Founder and President of OpusXenta.
"We were looking for a partner that could help us serve our global customer base and scale to billions of dollars in card volume," said Storable, CEO Chuck Gordon. "After an extensive review of our options, we chose Payrix because it was the right mix of technology, client focus and collaborative culture."
Payrix enables software companies to jump start a high-growth payments business, as well as those ready to fully seize the embedded payments opportunity as a payment facilitator. Payrix's out-of-the box, full production platform is seamlessly layered into a client's SaaS platform, mobile app or marketplace. This creates a world-class customer experience and allows clients to tap into an additional recurring revenue stream that accelerates growth. As clients continue to expand overseas, each will have deeper, broader needs with other forms of payment, in multiple currencies.
Australia and New Zealand marks a major step forward for Payrix's client base, existing and prospective. With plans to expand to additional markets in 2021, Payrix will continue to open doors for digital commerce to thrive around the world.
IntegraPay was represented by EY (M&A) for this transaction.
Payrix enables vertically-focused SaaS companies to embed and manage payments natively within their software, securing additional recurring revenue and creating an awesome experience. Payrix provides the tools to create a seamless, embedded user experience, and offers clients the choice of payment facilitation-as-a-service (PFaaS) or a full payment infrastructure (payment IaaS) product based on business appetite. Payrix is a cloud built, API-first platform that is highly flexible, customizable and scalable.
Created by payments and technology experts, Payrix is designed to seamlessly grow with tomorrow's innovative technology platforms. Payrix is a privately-held company, headquartered in Frisco, TX and backed by Blue Star Innovation Partners and Providence Strategic Growth.
For more information about Payrix, visit http://www.payrix.com.
Established in 2009, IntegraPay is an Australian-based, global integrated payments technology company that provides subscription and recurring payment solutions for businesses, business management software providers and banks. IntegraPay services clients that require ongoing payment solutions and operate in a range of industries, with a particular focus on the childcare, accounting/ bookkeeping, health and fitness and charity sectors.
IntegraPay processes around $2 billion dollars of payments annually. The company has offices located in Brisbane, Sydney, Melbourne and the United States. For more information www.integrapay.com.au.
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