Digital Transactions Authoritative, insightful and timely information for payments professionals
Nuvei Corp. is making a move to bolster its integrated payments offerings with the acquisition of substantially all the assets of Phoenix-based Base Commerce LLC. Announced Tuesday, the pending deal—it’s expected to close by Dec. 31—will expand Nuvei’s product capabilities with a proprietary automated clearing house platform and additional merchants, Montreal-based Nuvei says.
The 12-year-old Base Commerce processes approximately $8 billion in annual ACH volume and more than $2 billion in credit card acquiring volume. Terms were not disclosed.
In other acquirer news, Fattmerchant Inc. announced Greater Sum Ventures, a Knoxville, Tenn.-based private-equity firm, made a majority investment in the payments provider. The amount was not disclosed.
Orlando, Fla.-based Fattmerchant says its current management remains in place. The additional capital will enable Fattmerchant to increase its development and growth, the company says. Among its latest products is Omni Connect, a platform for independent software vendors to easily integrate payments and related services.
“This opportunity is a perfect fit for GSV as we have always concentrated on the intersection of software and payments,” Ross Croley, founder and managing director of Greater Sum Ventures, said in a statement. “We believe this is a large growth market with independent software vendors increasingly focused on commercializing integrated payments as an ancillary revenue stream.”
