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TransactionWatch – Week of July 12th – July 16th

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Another bustling week in M&A activity as payment firms move ahead with strategic decisions that will lay out the groundwork for a successful second half of 2021 and beyond. To start, Payroc WorldAccess (“Payroc”) announced their acquisition of DCS Holdings Group, d/b/a ACHeck21. This acquisition further positions Payroc’s payments platform to process eChecks in addition to card, similar to their Canadian platform Caledon. Separately, Square announced this week their acquisition of Crew, an ISV focused on employee time tracking and managing day-to-day operations. Square plans to offer this solution through their existing complimentary Team Management service as it will help bolster its employee messaging, scheduling, and tracking functionality.

In other M&A news, the AP automation provider, AvidXchange, announced their deal with FastPay, a complimentary AP provider focused on the media industry. FastPay’s array of solutions has access to more than 70,000 media suppliers and will ultimately help enable AvidXchange to expand further into the middle market for media entities across the U.S. Lastly, Waystar has signed a definitive agreement to acquire Patientco, an omnichannel payments ISV for the healthcare industry. This acquisition better positions Waystar and their client base for patient payment acceptance.