TINLEY PARK, ILL.--(BUSINESS WIRE)--
Payroc, LLC, a leading merchant services and payment organization, is pleased to announce that it has acquired Integrity Payment Systems, LLC, a full-service processor and acquirer. This transaction results in a significant expansion of Payroc’s payments business. The combined Chicagoland companies have more than 27,000 merchants and over $8.2 billion in annual core merchant processing volume. Additionally, Payroc and Integrity are 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 (ISO) with MB Financial, and Integrity has registered to become a third-party payment processor, ISO and encryption support organization (ESO).
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“Payroc is focused on building something very special,” said James Oberman, chief executive officer of Payroc. “We welcome the entire Integrity team, as this winning combination positions both companies for significant growth,” added Oberman. “We are very excited about our expanded relationship with MB Financial Bank and their commitment to the payments business.”
Co-founders of Integrity Mike Ponder, president, and Anthony Morrison, chief financial officer, will continue to serve Integrity in these capacities, while also becoming stakeholders of Payroc. Additionally, Ponder will serve on Payroc’s board of managers. Because both companies have long-standing brand recognition in the merchant processing industry, they will continue to operate as separate companies and brands, while leveraging unique strengths to create competitive advantage for referral partners, sales agents and merchants. Payroc executives bring depth and experience to Integrity’s leadership team. James Oberman will assume the chief executive position. Matthew Austin, Payroc chief operating officer, will fill the same role for Integrity. Aaron Johnson, Payroc chief risk officer, also will serve in that capacity for Integrity.
“Integrity’s proven commitment to service combined with in-house, end-to-end processing and settlement capabilities are uniquely differentiated,” said Adam Oberman, president of Payroc. “The companies have the remarkable ability to serve traditional merchants, but also the customized requirements of the rapidly growing, technology-driven integrated software vendor (ISV) payments marketplace.”
“We are pleased to join forces with Payroc, which will uniquely leverage and enhance the proprietary processing platform Integrity has worked so hard to build,” said Integrity’s Ponder. “Not only are we adding the talent and experience of the Payroc team, but also our combined financial resources significantly enhance our capabilities to better service clients.”
About Payroc, LLC
Payroc, headquartered in the Tinley Park suburb of Chicago, drives commerce for its merchants with anytime, anywhere payment solutions. Payroc serves its referral partners and merchant clients with integrity as trusted advisors and recognized experts in payments, providing transparent pricing clarity, and developing personal relationships while delivering exceptional technology. Payroc has registered to become an ISO of MB Financial Bank, N.A., Chicago, Illinois, is a registered ISO and payment facilitator of Fifth Third Bank, Cincinnati, Ohio, and is a registered ISO of Wells Fargo, Concord, California. Payroc services and supports more than 10,000 merchants throughout North America, providing stability in payments by safely and securely processing over $4 billion in annual charge volume. For more information, please visit payroc.com or telephone 844-PAYROC-4.
About Integrity Payment Systems, LLC
Integrity, headquartered in the Des Plaines suburb of Chicago, is a full-service processor and acquirer delivering complete end-to-end and in-house card and other electronic payment processing services. In addition to its core processing capabilities, Integrity uniquely differentiates itself by delivering personal service, integrated technology and customized settlement solutions. Integrity is a registered third-party payment processor, ISO and ESO of First Savings Bank, Beresford, South Dakota, and has registered to become a third-party processor, ISO and ESO of MB Financial Bank, N.A., Chicago, Illinois. The company services and supports more than 17,000 merchants throughout North America, processing over $4.2 billion in annual charge volume. For more information, please visit integritypays.com.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial, Inc. is the Chicago-based holding company for MB Financial Bank, N.A. (“MB”) which has approximately $20 billion in assets and a more than one-hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB by visiting mbfinancial.com.
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