Priority Technology Holdings Acquires Plastiq to Expand Unified Commerce Platform

Priority Technology Holdings, a leading payments and banking technology platform, has announced the acquisition of Plastiq, a pioneering B2B payments company. This strategic move aims to expand Priority’s differentiated Unified Commerce Platform and provide businesses of all sizes with a comprehensive suite of working capital solutions.

Description of the merger

The merger between Priority Technology Holdings and Plastiq brings together the capabilities of both companies to create a powerful and comprehensive offering. By combining Plastiq’s expertise in bill pay and working capital with Priority’s payment solutions, the merger addresses the needs of businesses seeking improved cash flow and instant access to working capital. The goal is to provide a one-stop-shop for businesses, offering a full suite of working capital solutions under one platform.

Background on Priority Technology Holdings and Plastiq

Priority Technology Holdings, with its payments and banking technology platform, serves over 800,000 clients and processes an impressive $115 billion in annual payment volume. This acquisition further reinforces Priority’s position as a leader in the industry, leveraging Plastiq’s capabilities to enhance their offerings.

Plastiq, founded in 2012, has established itself as a trusted B2B payments company. Its focus has been on helping businesses improve cash flow and gain instant access to working capital. The company’s innovative solutions have helped numerous businesses accelerate their financial success.

Comments from Priority’s Chairman and CEO, as well as Plastiq’s CEO & Founder

Thomas Priore, Chairman and CEO of Priority, expressed enthusiasm about the acquisition, stating, “The addition of Plastiq is another example of how Priority is building a differentiated Unified Commerce Platform for our business and integrated software clients.” This acquisition aligns with Priority’s commitment to providing innovative solutions to its clients.

Eliot Buchanan, CEO and Founder of Plastiq, highlighted their mission of accelerating small business financial success. He stated, “Our mission has always been to accelerate the financial success of small businesses by giving them access to the working capital they need to grow and thrive.” The integration with Priority Technology Holdings allows Plastiq to further enhance their mission and serve a broader customer base.

Approval of the acquisition

The acquisition has received approval from the United States Bankruptcy Court for the District of Delaware, solidifying its legal standing and paving the way for an efficient integration.

Priority’s role in handling payments and embedded finance

Priority’s expertise lies in managing the intricacies of payments and embedded finance. Their services enable partners to focus on their core business objectives while leaving the complexities of financial transactions in capable hands.

Integration of Plastiq’s services into Priority’s unified commerce platform

The integration of Plastiq’s services into Priority’s unified commerce platform marks an exciting development for businesses seeking optimized cash flow management. Through a single platform, customers will have access to a range of payment acceptance and automated bill payment tools. This integration showcases Priority’s continued commitment to innovation in the FinTech industry, providing businesses with efficient solutions and helping them stay ahead in an evolving market.

The acquisition of Plastiq by Priority Technology Holdings represents a significant step in expanding Priority’s Unified Commerce Platform. By combining their respective capabilities, Priority aims to provide businesses of all sizes with a comprehensive suite of working capital solutions. With the approval of the United States Bankruptcy Court, this strategic move is set to unlock new opportunities and benefits for Priority’s clients and the broader business community. As the integration progresses, businesses can expect an enhanced platform that streamlines cash flow management, reinforcing Priority’s position as an innovative force in the FinTech industry.

Explore more

Can Stablecoins Balance Privacy and Crime Prevention?

The emergence of stablecoins in the cryptocurrency landscape has introduced a crucial dilemma between safeguarding user privacy and mitigating financial crime. Recent incidents involving Tether’s ability to freeze funds linked to illicit activities underscore the tension between these objectives. Amid these complexities, stablecoins continue to attract attention as both reliable transactional instruments and potential tools for crime prevention, prompting a

AI-Driven Payment Routing – Review

In a world where every business transaction relies heavily on speed and accuracy, AI-driven payment routing emerges as a groundbreaking solution. Designed to amplify global payment authorization rates, this technology optimizes transaction conversions and minimizes costs, catalyzing new dynamics in digital finance. By harnessing the prowess of artificial intelligence, the model leverages advanced analytics to choose the best acquirer paths,

How Are AI Agents Revolutionizing SME Finance Solutions?

Can AI agents reshape the financial landscape for small and medium-sized enterprises (SMEs) in such a short time that it seems almost overnight? Recent advancements suggest this is not just a possibility but a burgeoning reality. According to the latest reports, AI adoption in financial services has increased by 60% in recent years, highlighting a rapid transformation. Imagine an SME

Trend Analysis: Artificial Emotional Intelligence in CX

In the rapidly evolving landscape of customer engagement, one of the most groundbreaking innovations is artificial emotional intelligence (AEI), a subset of artificial intelligence (AI) designed to perceive and engage with human emotions. As businesses strive to deliver highly personalized and emotionally resonant experiences, the adoption of AEI transforms the customer service landscape, offering new opportunities for connection and differentiation.

Will Telemetry Data Boost Windows 11 Performance?

The Telemetry Question: Could It Be the Answer to PC Performance Woes? If your Windows 11 has left you questioning its performance, you’re not alone. Many users are somewhat disappointed by computers not performing as expected, leading to frustrations that linger even after upgrading from Windows 10. One proposed solution is Microsoft’s initiative to leverage telemetry data, an approach that