Stax Payments Acquires Atlantic-Pacific Processing Systems

  Stax Payments

Stax Payments, a prominent payment technology provider, has recently announced its acquisition of Atlantic-Pacific Processing Systems (APPS). The procurement of APPS is anticipated to significantly enhance Stax’s technology capabilities, creating a comprehensive and seamless payment processing platform.

Expanding Technology Capabilities

The integration of APPS into Stax’s operations signifies a considerable expansion of the firm’s technology stack. This move will provide partners and merchants with versatile, customizable options for their payment processing needs. Stax aims to offer a simple, secure, multi-channel payment experience for partners, customers, and the end consumer.

Towards a Bespoke Payment Experience

The CEO of Stax, Paulette Rowe, highlighted the company’s enhanced innovation capabilities and technology position following the acquisition. She expressed excitement at leading a new growth phase for Stax’s employees, partners, and customers. The APPS platform, henceforth referred to as Stax Processing, will eventually become the foundational processing layer for fintech offerings targeted at Independent Software Vendors (ISVs), Independent Sales Organizations (ISOs), and Small and Medium-sized Businesses (SMBs).

Enhanced Functionality and Team Expansion

Stax Processing is set to provide an enhanced multi-channel offering, improved data reporting, and additional customization capabilities. The expansion of Stax’s functionality is expected to debut in Q4 2023, with complete integration and further developments planned throughout 2024.

The acquisition will see key members of the APPS leadership team join Stax, ushering in a new era of all-in-one payment processing. Abe Maghaguian, the APPS CEO, will transition to Stax as Chief Payments Officer, while Sarah Gerald, the APPS COO, will become the Chief Operating Officer of Processing at Stax. Stax will also welcome nearly 50 new team members from APPS to its broader team.

A One-Stop Shop for Payment Needs

As the payment landscape becomes increasingly complex, users are seeking a one-stop solution for all their payment needs. “This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform,” said Maghaguian.