Payroc LLC, a payment processing and merchant services organization, has acquired the assets of The iTransact Group LLC.
“We are excited about the opportunities and enhanced value we can deliver to referral partners, merchants and employees with our increased scale,” Payroc CEO James Oberman said. “The acquisition aligns with Payroc’s deep commitment to exceptional service and payment solutions.”
The transaction expands Payroc significantly. Payroc also gains mobile point-of-sale technology, a proprietary e-commerce gateway and PayFac, a proprietary payment facilitator.
“We are pleased to welcome iTransact employees, leadership team, referral partners and merchants to the Payroc family,” Payroc President Nicholas Oberman said. “With iTransact, Payroc is uniquely positioned to capitalize on opportunities for significant growth.”
Some of the iTransact leadership team are joining Payroc, including David Hall, executive vice president of referral partners; Jared Poulson, chief product and technology officer; and Colby Poulson, the senior vice president business development and training. Porter Hall and Stephen Hall from iTransact will serve as consultants.
“The iTransact team is excited to join forces with Payroc,” Stephen Hall, chief executive officer of iTransact, said. “This winning combination will enable us to enhance the value we provide to our trusted advisor referral partners and their merchant clients through more robust solutions and expanded service offerings.”
The iTransact brand will be preserved and maintained.