Stax Payments acquired APPS recently. Stax Payments is a popular company based in Orlando, Florida. And Atlantic-Pacific Processing Systems or APPS is a digital platform provider from Las Vegas, NV.
This strategic move significantly broadens Stax’s technology offerings. It has presented merchants and partners with adaptable, personalized choices for their payment processing requirements, all within one seamless platform. With the inclusion of APPS, Stax Payments is committed to further enhancing its technology suite, delivering a secure, customizable, and versatile experience for merchants and partners, all consolidated within a single platform. The overarching goal is to elevate the payment experience for ISVs, traders, payment facilitators, and ISOs.
Image source: Stax
The rebranded APPS platform, now known as Stax Processing, will serve as the fundamental processing layer, optimizing fintech solutions for ISOs, SMEs, and ISVs. This streamlined, comprehensive ecosystem will also offer enhanced multi-channel capabilities and improved data reporting alongside additional tailored services to meet diverse business needs.
Stax Payments acquired APPS- Key Takeaways
- Stax, a leading payments technology provider, has acquired APPS, a prominent payment processor, to establish a comprehensive E2E platform for payment processing.
- The Las Vegas-based APPS specializes in providing payment software for various tasks, including chargeback management and payment processing.
- Notably, all approximately 50 employees of the company will transition to Stax, with the current APPS’ CEO, Abe Maghaguian, taking on the role of Stax’s CPO.
- While Orlando-based Stax did not disclose the financial details of the transaction, the move signifies a significant step in the company’s growth strategy.
- Alongside its Las Vegas headquarters, APPS also maintains offices in California, Louisville, Fountain Valley, and Kentucky, all of which are expected to continue their operations following the acquisition.
Stax Payments Enhances Its Payment Ecosystem With APPS Acquisition
Stax Payments, a known payment processor, has recently acquired APPS, signifying a significant milestone in its journey as a leading payment provider in the market. The acquisition of APPS has paved the way for the evolution of Stax, resulting in the establishment of an E2E and seamless payment processing platform.
Image source: APPS
The APPS platform, to be rebranded as Stax Processing, is poised to become the cornerstone for empowering FinTech solutions tailored for ISOs, SMEs, and ISVs.
The enhanced version of Stax’s capabilities is scheduled to make its debut in the final quarter of 2023, with full integration and a series of further advancements planned for the upcoming year. This important expansion of Stax’s functionalities will start in the fourth quarter of this year, followed by a comprehensive integration and a roadmap for additional developments throughout 2024.
As a part of this acquisition, key members of the APPS leadership team will join Stax, heralding a new era of all-encompassing payment processing. Notably, the CEO of APPS, soon to be Stax Processing, Abe Maghaguian, will assume the role of Stax’s CPO. At the same time, Sarah Gerald, who was the COO at APPS, will take up the position of COO of Processing at Stax. This integration also welcomes nearly 50 new team members from APPS into the broader Stax family.
Now, Stax intends to roll out fresh services, complete integration, and additional offerings extending until the culmination of the following year. Rowe emphasized that the acquisition of APPS has pumped their capacity for innovation and technological advancement, empowering their team to craft a personalized payment journey.
According to Paulette Rowe, Stax’s CEO, the demand from their partners and customers centers around a straightforward, secure, and versatile payment experience that caters not only to them but also to their end consumers. With the integration of APPS, their ability to innovate and strengthen their technological standing has been amplified, enabling them to curate a tailored payment journey for every merchant, ISO, payment facilitator, or ISV. They are eagerly leading the charge into a new phase of growth for their employees, partners, and customers.
Abe Maghaguian emphasized that as the payment landscape grows more intricate, users seek a comprehensive solution to meet all their payment requirements. This acquisition provides their customers with access to a highly skilled team dedicated to minimizing complexities and maximizing the value of payments for their partners. They are excited to unite with Stax and combine their offerings to provide an impactful payment platform.
About Stax Payments
Stax is a strategy consulting company that has its main offices in Boston, Massachusetts. It involves services in different areas such as corporate and growth strategy, profit enhancement, digital strategy, and so forth. The organization offers services in different industries as well, for example, health care, the financial sector, the commercial sector, stock exchanges, and many others.
One of Stax’s distinctive offerings is its equipment-agnostic credit card processing platform. Being unique in comparison with its rivals, this platform lets businesses make use of their favorite POS hardware and effortlessly connect third-party apps. It also provides competitive wholesale payment rates at subscription-based pricing and three-tiered structures, which makes the charges straightforward. This one-stop solution enables companies to make faster payments with greater flexibility and smartness in making decisions for the enhancement of their agility, intelligence, and ability to pay.
About APPS
Atlantic Pacific Processing Solutions (APPS), headquartered in Las Vegas, delivers top-notch credit card and ACH processing services catering to merchants of all sizes and types. Their offerings include secure connectivity for in-person transactions and online payment gateways supporting e-commerce, virtual transactions, and wireless transactions.
With over two decades of experience, Atlantic Pacific has established itself as a trusted leader in the merchant processing industry. Merchants can rely on tier-one customer service, personalized assistance, and a range of innovative products and services.
Conclusion
The acquisition of APPS by Stax Payments marks a significant stride in the payment processing technology. This strategic move has expanded Stax’s capabilities, positioning the company as a comprehensive end-to-end platform for various stakeholders, including ISOs, SMEs, and ISVs. By integrating the expertise of the APPS team, Stax is poised to deliver an enhanced, personalized, and streamlined payment experience, catering to the evolving demands of the modern business landscape.
With the rebranding of the APPS platform as Stax Processing, businesses can look forward to a seamless integration of fintech solutions, bolstered by improved multi-channel capabilities and robust data reporting. This transition not only emphasizes Stax’s commitment to technological advancement but also underscores its dedication to providing tailored services that meet the diverse needs of merchants and partners.
Furthermore, the merger of the two teams under the leadership of key personnel, including Abe Maghaguian and Sarah Gerald, signifies a shared vision for innovation and a customer-centric approach to simplifying complex payment processes.
Frequently Asked Questions
Q: What is the function of Stax payment?
Stax serves as a user-friendly payment processing platform designed for small businesses, allowing them to save money and receive payments promptly. This subscription-based service provides an all-in-one solution, eliminating the necessity to engage with multiple vendors.
Q: What is the role of APPS?
APPS functions as a comprehensive merchant acquirer, facilitating various entities such as independent sales organizations (ISOs), independent sales agents (ISAs), independent software vendors (ISVs), value-added resellers (VARs), and financial institution partners to offer E2E payment processing services.
Q: What will be the new name for APPS following the acquisition?
Post-acquisition, APPS will be known as Stax Processing, reflecting the integration and alignment of the two entities.
Q: What was the acquisition cost for Stax in the APPS acquisition?
The details of the deal are not yet shared with the public, so the key details remain unknown.
