M&A activity within the payments industry maintains steady this past week with a couple new deal announcements. To kick things off, Jack Henry & Associates announced their intention to acquire Payrailz for an undisclosed sum. This deal is positioned to enhance Jack Henry’s digital payment capabilities, primarily around real-time person-to-person (P2P) payments. Additionally, the inclusion of Payrailz aligns with Jack Henry’s overarching payments strategy in embedding advanced fintech solutions for their array of financial institutions. This acquisition is expected to close at the end of August. Separately, Sabre has confirmed their acquisition of Conferma Pay for an undisclosed sum. Sabre and Conferma Pay have been partners since 2011 and seek to strategize on advancing Sabre’s virtual card payments in the travel industry. Furthermore, the two companies will leverage their existing assets towards developing enhanced technologies geared towards the B2B travel payments space.
In other news, Finix as well as Central Payments separately announced new funding rounds. Coincidentally, both firms succeeded to raise $30 million in new capital which will accelerate their growth in product development and customer expansion in their respective markets.