Fortis has acquired MerchantE’s NetSuite payments division, saying this move will accelerate the deployment of new, embedded financial and commerce enabling solutions.
MerchantE’s NetSuite payments solutions will join Fortis’ existing embedded payments offerings for software providers, enterprise resource planning (ERP) customers and scaling businesses, Fortis said in a Wednesday (July 24) press release.
“We are thrilled to continue the legacy established by MerchantE,” Greg Cohen, CEO of Fortis, said in the release. “As a leader in ERP and B2B payments, we look forward to expanding our investment in the NetSuite ecosystem with a robust pipeline of feature enhancements.”
By delivering comprehensive payment solutions and commerce enablement to software partners and developers, Fortis processes billions of dollars a year, according to the release.
MerchantE has driven payments acceptance within the NetSuite ERP ecosystem since 2004, per the release.
“As we transition to the Fortis platform, I am truly excited at what this will mean for our customers and future customers,” Jeremy Collins, vice president of business development and NetSuite channel at Fortis, said in the release. “Our legacy users can expect the same great service plus new, enhanced features. We are excited to be a part of the next chapter of embedded ERP payment processing.”
In an earlier transaction, Fortis acquired embedded payment solution provider SmartPay in June 2023, saying that move would bring that firm’s team, customer relationships and capabilities to Fortis.
“The SmartPay acquisition gives Fortis access to a skilled team of integrated payments professionals and enables the company to leverage the strong relationships SmartPay built, strengthening Fortis’ ability to serve scaling client businesses in complex markets,” Fortis said at the time in a press release.
In November 2022, Fortis expanded its technology offerings by acquiring Payment Logistics, a payment technology firm that was founded in 2003 and had a large breadth of partnerships that processed a significant volume of transactions across thousands of businesses on an annual basis.
Cohen said at the time in a press release that the acquisition strengthened Fortis’ tools and infrastructure while improving its “ability to enhance the merchant and customer experience with embedded payments.”
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