Payroc Acquires the iTransact Group

Payroc LLC, a leading merchant services and payment processing organization, announced today that it has acquired the assets of payment gateway and merchant account provider The iTransact Group, LLC.

The transaction results in a notable expansion of Payroc’s payments business, adding 300 trustworthy advisor referral partners and 6,000 merchants with over $1.3 billion in annual processing volume.

In addition, Payroc additionally gains mobile POS technology, a proprietary ecommerce gateway, and a proprietary integrated payment facilitator platform that will increase the delivery of customized vertical market payment solutions for micro, small, and medium-sized merchants.

“We are excited about the opportunities and enhanced value we can deliver to referral partners, merchants and employees with our increased scale,” said James Oberman, chief executive officer for Payroc. “The acquisition aligns with Payroc’s deep commitment to exceptional service and payment solutions.”

“We are pleased to welcome iTransact employees, leadership team, referral partners and merchants to the Payroc family,” said Nicholas Oberman, president of Payroc. “With iTransact, Payroc is uniquely positioned to capitalize on opportunities for significant growth.”

“The iTransact team is excited to join forces with Payroc,” said Stephen Hall, chief executive officer of iTransact. “This winning combination will enable us to enhance the value we provide to our trusted advisor referral partners and their merchant clients through more robust solutions and expanded service offerings.”

Joining the Payroc leadership team from iTransact are David Hall, executive VP referral partners; Jared Poulson, chief product and technology officer; and Colby Poulson, Senior VP business development and training.