Tempe-based payment processing technology company Aurora Payments LLC has added 6,000 merchants to its roster with the acquisition of Florida-based financial technology firm One Payment.
The Valley company said the acquisition also adds immediate scale to its platform with One Payment’s more than $1 billion in annual volume, with its East Coast presence and with its penetration into minority-owned small- and medium-sized businesses.
One Payment’s technology and processing focuses on credit card processing and is used by restaurants, retailers, service industries and other businesses, and becoming part of Aurora will allow that technology to reach a larger market using Aurora’s full-service payment ecosystem and technology.
“The incredible year-over-year growth that One Payment has enjoyed has our team ecstatic about this acquisition,” said Aurora Payments CEO Brian Goudie in a statement. “One Payment adds significant value to Aurora with its roots on the East Coast and accelerates our diversified go-to-market strategy.”
Aurora Payments, which was founded in 2018, says its services are used by more than 27,000 merchants across the country with more than $12 billion in annual processing through 133 million transactions each year.
Aurora backed by New York PE firm
In January, New York private equity firm Corsair took a majority stake in Aurora Payments, and PE firm said at the time that the investment would prime the company for potential acquisitions.
“Aurora has a clear path to value creation through organic and inorganic growth opportunities, entrance into higher-growth sales channels, and investments in new or enhanced products and merchant services,” said Jeremy Schein, Partner at Corsair, in a January statement. “Aurora is one of the leading mid-sized, pure-play merchant acquirers with an enviable market position and multiple avenues for expansion."
The company is a full-service provider, offering a variety of platforms as well as hardware and service for transactions of all kinds. It lists its specialties as point of sale, independent sales organizations, lending, payments, financial technology, merchant services, credit card processing, cash discounts, contactless payments and fintech.
One Payment, based in Doral, Florida, was founded in 2009, and co-founder Luis Requejo said that Goudie has already played a key role in his company’s success since 2016. He described Goudie in a statement as “the visionary we want to help propel One Payment through the next stage of our company’s growth.”
“Over the past 14 years working in the payments space, I have met few transformative people like Brian Goudie who can shape the outlook of an organization and be a positive influence for good,” Requejo said in the statement. “One Payment is proud to ‘Rise with Aurora,’ as we pave a new path for our business, our employees, and our merchants.”
