National finance lender supports SME acquisition of card payment provider

A national alternative lender to mid-size SME’s has supported a Northampton business in acquiring a B2B card payment provider.

ThinCats has provided funds to support PAYA Group with their acquisition of Interactive Transaction Solutions (ITS), a B2B card payment provider.

PAYA Group is an independent provider of card processing solutions to businesses of all sizes, with a focus on leveraging technology.

ITS is a B2B Payment Gateway providing a range of payment services to enable B2B digital payments.

The augmented Group will benefit from ITS’s payment gateway and the ability to perform its own acquirer and terminal accreditations through its PCI DSS certification. This strengthening of the business’s IT capabilities will provide greater control of timings, agility and speed to market for the Group’s payment propositions.

Bill Thomson, group CEO of PAYA Group, said: “We are delighted to announce the acquisition of ITS, a business that has built a fantastic reputation in the market. The Group will benefit through its valuable technology-based payment gateway, which will provide an opportunity to build out our customer base even further.

“We are thrilled that we will be able to leverage the synergies to the benefit of our clients, giving assurance to customers that we will be there to deliver service in the long term.”

Ben Kimball, director regional business development of ThinCats, added: “It is great to support a growing and ambitious business like PAYA, whose work in the charity sector has had such a significant and positive impact.

“ITS is the perfect fit and will enhance the group’s proposition and delivery. Great to work with Kevin on another transaction and we look forward to seeing the group continue its strong growth trajectory.”

Legal advice on the transaction was provided by Franklins Solicitors LLP and PAYA Group were advised by Pierce Corporate Finance.