.svg "51³ΤΉΟΊΪΑΟ Logo"){kind=small}
51³ΤΉΟΊΪΑΟ Acquires Canadian Payment Services, Making 51³ΤΉΟΊΪΑΟ Canadaβs Largest Bank Independent Payments Provider
London, ON β Jan 26, 2022 β 51³ΤΉΟΊΪΑΟ announces the acquisition of Canadian Payment Services (CPS), one of the fastest growing providers of Canadian merchant services. This acquisition is the sixth addition to 51³ΤΉΟΊΪΑΟβs burgeoning portfolio of acquisitions, having acquired five other businesses in the past two years including Montreal-based DataCandy and Vancouver-based NiceJob.
βThis is the largest acquisition weβve made to date in relation to both new revenue and clients,β explains Tarique Al-Ansari, CEO at 51³ΤΉΟΊΪΑΟ. βAdditionally, weβre also excited to provide additional value to CPS merchants through 51³ΤΉΟΊΪΑΟβs proprietary product and service offerings.β
In addition to providing payment processing services, 51³ΤΉΟΊΪΑΟ offers a wide range of SaaS products including gift and loyalty, reputation marketing, and marketing automation.
βOver the years, 51³ΤΉΟΊΪΑΟ has shown their great commitment to serve Canadian small and medium sized businesses,β remarks Simon Lobanov, Managing Director at CPS. βWe are happy to turn our customer base to 51³ΤΉΟΊΪΑΟ 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 51³ΤΉΟΊΪΑΟ.β
With the acquisition of CPS, 51³ΤΉΟΊΪΑΟ 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 51³ΤΉΟΊΪΑΟ continues to aggressively grow in service, offering, and revenue, the business is looking to add over 100 new employees by the end of 2022.
About 51³ΤΉΟΊΪΑΟ
51³ΤΉΟΊΪΑΟ is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The company's seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and now reputation marketing, is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group's restaurant brands. 51³ΤΉΟΊΪΑΟ's solutions are used at over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America.
About Canadian Payment Services
Canadian Payment Services (CPS) is one of the fastest growing providers of Canadian merchant services, which includes Credit Card and Interac Processing, Gift Card and Loyalty Programs, and Business Cash Advance. With over 55 years of combined experience in the merchant services industry, CPS has served over 10,000 merchants.
###
Media Contact:
Victor Tang
778.512.4902