VeriCheck Inc acquires ACHWorks
US-based payments and technology service provider VeriCheck Inc (VCI) has announced the acquisition of Applied Payments, LLC, which does business as ACHWorks, a technology company and Automated Clearing House (ACH) payment services provider.
As per the press statement, VCI will integrate the ACHWork’s team and technology which will provide clients with payment services and fintech solutions for businesses to grow.
“The acquisition of ACHWorks will deliver important benefits to our combined clients through our broader product mix, expanded technology solutions and increased operating leverage,” said Don Singer, CEO of VeriCheck.
ACHWorks is a provider of payments technology that facilitates commercial transactions through the ACH Network. Its proprietary systems and software provide businesses with access to ACH Network through integration to existing accounting platforms or by streamlined stand-alone systems.
In the past year, VCI has been developing the first Microsoft Azure cloud-based ACH payment processing platform. VEER, and will replace VCI’s existing ACH processing solution with customizable APIs.
“There are a lot of players in the space and the payments industry is going through rapid changes both from technological innovations and regulatory standards,” said McCurry.
The acquisition details pertaining to valuation were not disclosed on the press note.
Vericheck is a payment processing company that helps organisations in accepting and managing transactions and payments.