Talus Pay is a prominent player providing payment processing services and has recently completed the acquisition of two companies – Clarus Merchant Services and Jobox.ai. Clarus Merchant Services is a top vendor of comprehensive B2B financial services, while Jobox.ai, recognized for its FinTech innovations, specializes in the housing service sector.
This is a strategic acquisition by Talus Pay. The company now processes over $9 billion in yearly payments and, catering to more than 22,000 merchants in the US, is geared towards promoting growth in the facility and housing services sector. Talus Pay envisions extending Jobox’s cutting-edge technology to diverse key fields, including beauty, auto repair, hospitality, and beyond. It’s worth noting that Talus Pay operates within the A&M Capital Partners portfolio, although the precise financial details of the transaction have yet to be disclosed.
Key Takeaways:
- Strategic Expansion: Talus Pay’s recent acquisitions of Clarus Merchant Services and Jobox.ai signify a strategic move to broaden its capabilities. With these additions, Talus Pay is positioned for substantial growth, surpassing $9 billion in annual processing volume and serving over 22,000 merchants, mainly targeting expansion in the facility and housing services sector.
- Diverse Industry Impact: The integration of Jobox.ai, renowned for fintech innovations in-home services, and Clarus Merchant Services, a leader in B2B payment solutions, showcases Talus Pay’s commitment to diversifying its industry footprint. The company aims to extend Jobox’s cutting-edge technology beyond home services, impacting key industries such as beauty, hospitality, and auto repair.
- Technology-Enabled Change: Talus Pay’s CEO, Kim Fitzsimmons, emphasizes the strategic value of adding Clarus and Jobox to the company’s portfolio, highlighting their robust end-to-end technology infrastructure. The acquisitions provide Talus Pay with valuable increased scale and proprietary software, contributing to technology-focused growth and enhancing services in complementary B2B sectors.
- Vertical Integration Commitment: The collaboration aligns with Talus Pay’s commitment to a vertically integrated delivery of payment processing solutions. The acquisitions, supported by AMCP Principal Alex Sacripanti, reinforce Talus Pay’s dedication to partnering with entrepreneurs who share the company’s vision for future-ready tech and industry-specific expertise.
Acquisition By Talus Pay Expands Its Horizon
Image source
Talus Pay, headquartered in Texas, has recently made two significant acquisitions this week. The payment processing company has added Jobox.ai, a fintech infrastructure company specializing in home services, and Clarus Merchant Services, known for its B2B payment solutions, to its portfolio. While the financial details of the transactions were not disclosed, these acquisitions have elevated Talus Pay’s annual processing volume to over $9 billion, serving a vast customer base of more than 22,000 merchants.
Talus Pay will leverage these acquisitions to foster home and facility services vertical growth. Kim Fitzsimmons, CEO of Talus Pay, enthusiastically welcomed Clarus and Jobox to the Talus Pay team, highlighting their robust end-to-end service, sales platforms, and technology infrastructure. Fitzsimmons emphasized that adding Clarus and Jobox provides Talus Pay with valuable enhanced scale and proprietary software in complementary B2B industry verticals.
Alex Sacripanti, Principal at AMCP, shared his satisfaction in supporting Talus Pay’s vision for future-ready growth. He noted that Clarus and Jobox align with Talus Pay’s values and exemplify a commitment to partnering with entrepreneurs who share the company’s vertical integration in providing payment processing services.
Jobox empowers hardworking housing services professionals throughout the US, offering a comprehensive business solution for those constantly on the move. The mobile app streamlines the matching of the job, payments and scheduling, inventory management, and customer communications, allowing SMB owners to concentrate on delivering exceptional service at every step. This focus builds lasting loyalty and customer relationships. The flexible, open-source design used by Jobox offers scalability.
Through both reseller and direct channels with ISV partners, Talus Pay aims to expand Jobox’s impact beyond home services into key industries. Shay Bloch, co-founder and CEO of Jobox, discussed the product’s utility for professionals in underrepresented residences and facility services, helping them run their companies efficiently and enhance their profitability. Bloch emphasized that partnering with Talus Pay enables them to strengthen their presence in the home services sector and expedite entry into unexplored market verticals.
Clarus Merchant Services, known for its proficiency in various B2B credit unions and distribution groups, is a critical player in the payment services domain. Emphasizing competitive pricing, customer care, and robust cardholder security, Clarus aligns seamlessly with Talus Pay’s strategic goals.
Operating from Maryland for over two decades, Clarus processes over $2 billion in annual card volume, serving a diverse clientele, including businesses, credit unions, wholesale distribution groups, and building materials distribution companies. With the acquisition in progress, Clarus anticipates offering the best solutions with this partnership to enhance its merchant services portfolio.
As part of the integration, Eric Pottebaum, the President of Clarus, will assume the role of General Manager with Clarus portfolio within Talus Pay’s leadership team. Shay Bloch from Talus Pay has been appointed CSO, whereas Kaushik Pendurthi has taken on the CTO role.
Enthusiastic about the collaboration, Eric Pottebaum noted substantial portfolio and business synergies with Talus Pay, making the union a natural progression. He looks forward to providing Clarus’s merchant customers with advanced solutions from Talus Pay and collectively contributing to long-term growth.
The Clarus transaction was guided by a fintech advisory firm, MAPP Advisors, specializing in payments and advising the seller. IceMiller LLP, Corvino Law, and Winston & Strawn LLP provided legal counsel for Talus Pay concerning the acquisitions.
About Jobox
Image source
Jobox is a Software as a Service (SaaS) marketplace infrastructure provider connecting businesses with vetted housing service professionals. The company’s artificial intelligence-driven infrastructure equips housing service professionals with a complimentary toolbox to launch their enterprises. Simultaneously, it assists major organizations in matching available work with a pool of professionals based on factors like skill type and location.
The Jobox platform is a comprehensive workspace for skilled professionals, streamlining processes and eliminating paperwork. It gives Jobox a real-time overview of a professional’s location, skills, and availability for job assignments. Leveraging this data, Jobox efficiently assigns new jobs from nationwide demand partners to a designated professional in a local market. This approach eliminates customers needing to select and validate service providers personally.
Professionals using Jobox can manage their businesses within a single app. This includes messaging customers, generating professional invoices, processing payments, and receiving weekly automated settlement reports for simplified accounting. Depending on the professional’s location and skillset, they may also access job opportunities for free and schedule their availability to suit their preferences. Founded on June 15, 2016, by Moshe Levy, Shay Bloch, and Kaushik Pendhurthi, Jobox was a privately owned company.
About CLARUS Merchant
Image source
Established in 1999, CLARUS Merchant Services is committed to delivering professionalism and service that surpasses any other payment processor. Our dedication to scale, flexibility, and security ensures that Clarus merchants enjoy the advantages of seamless single-platform execution, a comprehensive suite of integrated future-proof products, value-added services, and deep analysis management reports.
Solutions offered by Clarus encompass a robust portfolio of competitively priced Point of Sale (POS) terminals, along with web, mobile, and Enterprise Resource Planning (ERP) options. With extensive processing experience, Clarus possesses the expertise to meet various industries’ diverse needs and requirements. Handling a substantial yearly card volume exceeding $2 billion, Clarus proudly brags to the industry’s highest customer retention rates.
About Talus Pay
Talus Pay, headquartered in Dallas, specializes in providing payment processing services primarily to SMBs in the US. With a client base exceeding 22,000 merchants across North America, Talus Pay focuses on four core verticals: restaurants, professional services firms, automotive businesses, and retailers. Despite this official emphasis, the company’s approach is industry-agnostic. Talus Pay’s proficient team of payment processing professionals possesses the collective experience and expertise to cater to SMBs in virtually any sector.
Talus Pay stands out by offering a range of advantages that appeal to value-conscious decision-makers in SMBs. The company facilitates various transaction types, including ACH, keyed-in card transactions, gift card transactions, e-check transactions, mobile wallet payments and transfers, and magstripe and chip card transactions. These capabilities aim to enhance client revenue and operational efficiency while easing the burdens on internal accounts payable operations.
Processing a substantial 67.8 million in transactions, amounting to over $9 billion yearly charge volumes, Talus Pay operates through direct and independent agents for sale. The company has also established a robust partner network, collaborating with financial institutions, ISOs, ISVs, and other value-added resellers.
Conclusion
Talus Pay’s recent Clarus Merchant and Jobox acquisitions are one step further for the payment processing company. With a processing volume of over $9 billion and a customer base of more than 22,000 merchants, Talus Pay is set for significant growth, especially in the home and facility services sector.
By adding Jobox.ai, known for its fintech innovations in the housing services field, and Clarus Merchant Services, a leader in integrated B2B payment solutions, Talus Pay is committed to expanding into various areas. The company plans to utilize Jobox’s technology in the beauty, hospitality, and auto repair industries.
This collaboration aligns with Talus Pays’ values, as highlighted by CEO Kim Fitzsimmons and supported by AMCP Principal Alex Sacripanti. The acquisitions provide software and increased scale to Talus Pay, reinforcing its position in complementary B2B sectors. As Talus Pay integrates Jobox and Clarus into its portfolio, it looks forward to offering solutions and creating long-term growth. This strategic move reflects Talus Pays dedication to delivering payment processing services across industries.
