KORT Payments has agreed to acquire AptPay, the Canadian fintechs confirmed this week.
KORT, founded in 2016 as Mercco Payments before rebranding in 2024, offers a full-stack, omni-channel, enterprise-grade platform that enables businesses to connect and transact across capabilities in compliance, risk management, and payment processing.
Toronto’s AptPay, meanwhile, was established in 2019 and provides businesses with a single integration for moving money across multiple payment rails, including Mastercard Send, VISA Original Credit Transaction, Interac e-Transfer, Electronic Funds Transfer, and more.
The acquisition of AptPay expands KORT’s capabilities beyond card acceptance to include account-to-account payments and disbursements, according to a statement, while also supporting KORT’s growth strategy by broadening its product offering and accelerating its expansion in the United States.
“AptPay’s real-time payout and orchestration capabilities are highly complementary to our platform, and together we can offer customers a complete money movement solution across North America,” commented chief operating officer Danny Chazonoff.
“This acquisition strengthens our position in the payments ecosystem,” Chazonoff stated, “by combining our team’s deep industry expertise and established relationships with AptPay’s strong market presence and robust, scalable technology platform.”
AptPay chief executive officer Shams Syed says that joining KORT “strengthens our business by bringing together two teams with a shared vision and deep experience in building and scaling payments businesses.”
“That proven experience, combined with KORT’s platform and resources, puts us in a stronger position to accelerate AptPay’s growth,” Syed believes.
Moving forward, AptPay will operate as a division of KORT Payments led by Syed.
“We’ll be able to scale faster, expand our reach across North America and beyond, and continue delivering the speed, reliability, and innovation our partners have come to expect from us,” Syed said.
Leave a Reply