Paysafe Group PLC on June 4 closed its acquisition of iPayment Holdings Inc.
The deal establishes Paysafe as a top five nonbank payment processor in the U.S. Paysafe will now start the process of integrating iPayment with Paysafe's North America payment processing organization, according to the news release.
Todd Linden, CEO of Paysafe in North America, will lead the expanded organization. IPayment Inc.'s former CEO, O.B. Rawls IV, and ex-CFO Robert Purcell have both accepted new leadership roles within Paysafe.
The acquisition allows Paysafe and iPayment to cross-sell more products such as point-of-sale, digital wallets, pay later and prepaid solutions to an expanded customer base.
