“Maintaining an acquisitive mindset is key for our product roadmap and growth strategies.”
– Tarique Al-Ansari
Under the terms of the acquisition, Paystone will obtain the DataCandy gift card and loyalty platform and establish DataCandy’s Montreal office as Paystone’s second headquarters. In addition to DataCandy, founded in 2002, Paystone also acquired Alberta-based merchant services provider POS West LTD and BC-based NXGEN Canada, this year. Paystone said these acquisitions helped the company increase its client base by fivefold.
“We brought these companies together because we wanted to disrupt the loyalty and payments industries,” said Tarique Al-Ansari, CEO of Paystone. “These acquisitions tie together complementary software solutions that will enable us to create proprietary products to further enhance Paystone’s value proposition and accelerate our ongoing growth efforts.”
Founded in 2009, Paystone develops payment processing solutions to North American businesses and registered charities. Its software and hardware products allow merchants to accept debit, credit, and e-commerce transactions.
“We are committed to becoming a trailblazer in the payment and software sector, and this is just the beginning,” added Al-Ansari. “Maintaining an acquisitive mindset is key for our product roadmap and growth strategies.”
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.