Stax Payments Acquires Atlantic-Pacific Processing Systems to Expand Payment Processing Platform

In an effort to give consumers an "end-to-end" experience, US fintech Stax Payments plans to acquire Atlantic-Pacific Processing Systems (APPS), a Las Vegas-based provider of payment solutions, in order to expand its payment processing platform with new technology.

Stax Payments, a Florida-based company that was founded in 2014, offers software-as-a-service (SaaS) companies and merchants in North America an API-connected payments platform that combines data analysis and customer management tools with payment processing services.

The technology that it acquired from APPS, which will be rebranded as Stax Processing after the acquisition, is said to provide "an enhanced multi-channel offering, improved data reporting, and additional customization capabilities" in addition to acting as a "foundational processing layer" for its platform.

It is anticipated that this new feature will launch in Q4 2023, and that "additional planned developments" and the technology integration will take place during the course of the following year.