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PSP Services Inc., a Leading Payments Solutions Provider for merchants across Canada, Completes the Acquisition of PSiGate, a wholly owned subsidiary of Peoples Payment Solutions Ltd.

·3 min read

VAUGHAN, ON, May 9, 2022 /CNW/ - PSP Services Inc. (PSP) is pleased to announce the completion of its acquisition of Payment Services Interactive Gateway Inc. (PSiGate). PSiGate, a wholly owned subsidiary of Peoples Payment Solutions Ltd. (PPS), focuses on eCommerce and card-not-present payment solutions for merchants in Canada. This strategic acquisition comes at a critical point for PSP as merchants everywhere continue to evolve their own eCommerce strategies and solutions. With this acquisition, PSP is well-positioned to advise on and deliver those online and mobile solutions that merchants are looking for.

"As PSP continues to execute its unified commerce platform strategy, this acquisition enhances our ability to deliver to merchants across North America flexible, secure and real-time payments capabilities for their customers," says Danny Gurizzan, CEO & President of PSP Services. "We have observed a significant acceleration in online purchases with respect to payment preferences and expect that to continue unabated for years to come. With our existing in-store payments solutions and cloud-based, fully-integrated POS company – iPOS™- we are absolutely leading the way in Canada and abroad in providing for highly-capable, highly-functional, innovative payments solutions with centralized, data-rich and multi-channel insights for businesses to optimize their operations."

PSiGate has been providing eCommerce merchant services since it was founded in 1998. Through its proprietary gateway, valued partnerships and integrations with industry-leading shopping carts and platforms, PSP will deliver unmatched value to a broad range of thousands of merchants across Canada.

"We very much look forward to welcoming PSiGate to the PSP family. We are excited to introduce further opportunities to our new partners and to the very talented team members that have come on board" Gurizzan continued, "And equally as important, to continuing to fulfill our clients' payments needs and expanding our relationship together on our unified commerce platform."

Howard Klein, President of Peoples Payments and Cards, at Peoples Group, added: "Peoples Group is thrilled to transition the PSiGate business over to PSP. Their best-in-class POS systems as well as an extremely talented team will be a great addition to the service offering. We will continue to support the PSiGate business as the acquiring bank."

PSP is an emerging payments processor in North America but has been delivering merchant services and its industry-leading, fully integrated, cloud-based POS solution – iPOS™ - to small and midsize businesses in the Middle East for the last decade. With PSP's corporate headquarters based out of Vaughan, Ontario, the company sees this acquisition as a real game-changer in the Canadian fintech industry and a launching pad for its unified commerce platform, introducing significant value and capability to businesses from coast-to-coast-to-coast.

About PSP

PSP Services Inc. is a Canadian corporation and one of the country's largest bank-independent payment processors. A leader in payment systems, processing, and integrations, PSP provides modular solutions through our unified commerce platform empowering our clients to drive their payments and customer experience as they see best. Through a 24 x 7 concierge client contact center, PSP delivers unrivaled services, support, and payments solutions to businesses across North America. Our client's business is in our DNA, providing a vast array of payments acceptance solutions that are personalized, and built on a rock-solid, proprietary technology platform allowing our clients to focus on what's most important to them.

About PSiGate

Founded in 1998, PSiGate specializes in eCommerce and card-not-present payment solutions for merchants in Canada. PSiGate delivers a secure interface for businesses to accept credit and debit payments with reliable, real-time transaction processing. PSiGate provides Canadian and US dollar merchant accounts to businesses anywhere in Canada, so that merchants can do online business worldwide.

About Peoples Payment Solutions Ltd.

Peoples Payment Solutions Ltd., a subsidiary of Peoples Trust Company, part of Peoples Group, offers a suite of industry-leading payment processing solutions for merchants through our various processing relationships.

SOURCE PSP Services Inc.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/May2022/09/c6928.html