Chicagoland ISOs join forces
Payroc LLC, a merchant services and payment organization, has acquired Integrity Payment Systems LLC, a full-service processor and acquirer. The transaction results in a significant expansion of Payroc's payments business, the company said in a press release.
The combined Chicagoland companies serve more than 27,000 merchants and handle $8.2 billion in annual core merchant processing volume.
Payroc and Integrity are also expanding their member bank sponsor relationships with the addition of Chicago-headquartered MB Financial Bank. N.A. Payroc has registered to become an independent sales organization with MB Financial; Integrity has registered to become a third-party payment processor, ISO and encryption support organization.
"Payroc is focused on building something very special," CEO James Oberman said in the release. "We welcome the entire Integrity team, as this winning combination positions both companies for significant growth. We are very excited about our expanded relationship with MB Financial Bank and their commitment to the payments business."
Integrity co-founders Integrity Mike Ponder, president, and Anthony Morrison, chief financial officer, will continue to serve Integrity in these capacities, and will become stakeholders of Payroc. Additionally, Ponder will serve on the Payroc's board of managers. Oberman will assume the chief executive position for both companies.