Paya, Inc. is an American
payment processor service that operates in North America and is headquartered in
Atlanta, Georgia.
As well as its headquarters, it has offices in
Florida,
Ohio and
Virginia.
The company provides online payments processing as well as products for face-to-face and telephone payments. It was known by the name Sage Payment Solutions while under the ownership of
The Sage Group plc
The Sage Group plc, commonly known as Sage, is a British multinational enterprise software company based in North Tyneside, England. As of 2017, it is the UK's second largest technology company, the world's third-largest supplier of enterpri ...
between 2006 and 2017. The company processes more than $30 billion for over 100,000 customers annually.
History
Sage Payment Solutions (SPS) North America was founded in 2006 by the
London Stock Exchange-listed
FTSE 100 company Sage Group who primarily operate in the accounting and payroll business software industry. The same year the Sage Group had entered the payments industry in its home country, the United Kingdom, through the acquisition of
Protx
Opayo, formerly Sage Pay, is a payments processing service owned by Elavon. It operates in the UK and Ireland. The company provides online payments processing as well as products for face-to-face and telephone payments. It was known by the name ...
, though the companies were kept separate.
Sage Group divested the US Sage Payment Solutions business to
GTCR
GTCR LLC is a Chicago, Illinois-based private equity firm focused on leveraged buyout, leveraged recapitalization, growth capital and rollup transactions. The firm principally invests in high-growth industries, including financial services & tec ...
in 2017 for $260 million. Sage Payments Solutions was later rebranded as Paya in January 2018.
GTCR provided Paya with $350 million in new equity.
In November 2018 the company appointed their current CEO, Jeff Hack,
and that same month acquired Stewardship Technologies.
In January 2019 Paya acquired First Billing Services.
On August 3, 2020, Paya announced that they were merging with
Nasdaq
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
-listed FinTech Acquisition Corp. III.
The merged company will be listed on the Nasdaq stock exchange under the symbol PAYA and have a value of $1.3 billion.
GTCR will remain the company's largest shareholder.
See also
*
List of online payment service providers
References
External links
Paya
{{Payment service providers
Companies based in Atlanta
Financial services companies established in 2006
Online payments
Payment service providers