Payroc Acquires Full-Service Processor Integrity Payment Systems
Payroc, LLC, a leading merchant services and payment organization, is pleased to announce that it has acquired Integrity Payment Systems, LLC, a full-service processor and acquirer. This transaction results in a significant expansion of Payroc’s payments business. The combined Chicagoland companies have more than 27,000 merchants and over $8.2 billion in annual core merchant processing volume. Additionally, Payroc and Integrity are expanding their member bank sponsor relationships with the addition of Chicago-headquartered MB Financial Bank, N.A. Payroc has registered to become an independent sales organization (ISO) with MB Financial, and Integrity has registered to become a third-party payment processor, ISO and encryption support organization (ESO).
“Payroc is focused on building something very special,” said James Oberman, chief executive officer of Payroc. “We welcome the entire Integrity team, as this winning combination positions both companies for significant growth,” added Oberman. “We are very excited about our expanded relationship with MB Financial Bank and their commitment to the payments business.”
Co-founders of Integrity Mike Ponder, president, and Anthony Morrison, chief financial officer, will continue to serve Integrity in these capacities, while also becoming stakeholders of Payroc. Additionally, Ponder will serve on Payroc’s board of managers. Because both companies have long-standing brand recognition in the merchant processing industry, they will continue to operate as separate companies and brands, while leveraging unique strengths to create competitive advantage for referral partners, sales agents and merchants. Payroc executives bring depth and experience to Integrity’s leadership team. James Oberman will assume the chief executive position. Matthew Austin, Payroc chief operating officer, will fill the same role for Integrity. Aaron Johnson, Payroc chief risk officer, also will serve in that capacity for Integrity.
“Integrity’s proven commitment to service combined with in-house, end-to-end processing and settlement capabilities are uniquely differentiated,” said Adam Oberman, president of Payroc. “The companies have the remarkable ability to serve traditional merchants, but also the customized requirements of the rapidly growing, technology-driven integrated software vendor (ISV) payments marketplace.”
“We are pleased to join forces with Payroc, which will uniquely leverage and enhance the proprietary processing platform Integrity has worked so hard to build,” said Integrity’s Ponder. “Not only are we adding the talent and experience of the Payroc team, but also our combined financial resources significantly enhance our capabilities to better service clients.”