Paya, Inc. is an American payment processor service that operates in North America and is headquartered in

Atlanta, Georgia Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

. As well as its headquarters, it has offices in

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

and

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

. 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 London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

-listed

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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.

References

External links

Paya
{{Payment service providers Companies based in Atlanta Financial services companies established in 2006 Online payments Payment service providers

History

See also

References

External links