• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Fintech.ca

Your Source for Canadian Fintech News

 
 
 
 
  • News
  • Interviews
  • Thought Leaders
  • Jobs
  • About

Paystone Becomes Canada’s Largest Bank Independent Payments Provider 

January 26, 2022 by Fintech Newsdesk Leave a Comment

London, Ontario’s Paystone has acquired Canadian Payment Services (CPS), one of the fastest growing providers of Canadian merchant services.

This acquisition is the sixth addition to Paystone’s burgeoning portfolio of acquisitions, having acquired five other businesses in the past two years including Montreal’s DataCandy and Vancouver’s NiceJob. 

“This is the largest acquisition we’ve made to date in relation to both new revenue and clients,” explains Tarique Al-Ansari, CEO at Paystone. “Additionally, we’re also excited to provide additional value to CPS merchants through Paystone’s proprietary product and service offerings.” 

With the acquisition of CPS, Paystone now services over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume.

As Paystone continues to aggressively grow in service, offering, and revenue, the business is looking to add over 100 new employees by the end of 2022. 

“Over the years, Paystone has shown their great commitment to serve Canadian small and medium sized businesses,” remarks Simon Lobanov, Managing Director at CPS. “We are happy to turn our customer base to Paystone so they can continue to receive the highest level of customer care as well as be able to grow their business via new value added products proprietary to Paystone.”

Filed Under: News Tagged With: Canadian Payment Services, Paystone

 
 
 
 

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

 
 
 
 

Email Newsletter

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Founding Sponsors

Recent Posts

  • Wealthsimple Launches Private Credit Opportunity for Retail Investors
  • As Digital Transactions Take Over Canada, Fraud Casts a Long Shadow
  • Obsiido Aims to Unlock Alternative Investments for Canadians ‘Like Never Before’
  • Shopify Integrates Google Cloud Tech to Arm Merchants with AI Tools
  • TD Bank Launches TD Insurance for Business in Canada

Copyright © 2023 Incubate Ventures | Privacy