- Stax Payments is set to acquire Atlantic-Pacific Processing Systems (APPS) in a bid to expand its payment processing platform.
- Stax Payments, founded in 2014 and based in Florida, offers an API-connected payments platform with data analysis and customer management for North American merchants and SaaS businesses.
- APPS, post-acquisition, will become Stax Processing and provide a foundational processing layer with enhanced multi-channel capabilities, better data reporting, and customization options.
- The new functionality is expected to launch in Q4 2023, with additional developments planned for the following year.
- Paulette Rowe, the CEO of Stax Payments since August 2023, believes this acquisition boosts innovation and technology, enabling a unified, customizable payment experience.
- Around 50 APPS team members will join Stax Payments, with APPS’ CEO transitioning to the role of chief payments officer, and COO Sarah Gerald becoming COO of processing in the new structure.
