EAST PROVIDENCE — An Illinois-based company with international offices has acquired East Commerce Solutions Inc. electronic payment processing and merchant services company.
Payroc WorldAccess LLC, which has offices in the U.S., Canada, Mexico and the United Kingdom, announced its acquisition of the East Providence business in January. Payroc processes payments in more than 46 countries, according to its website.
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Edward G. Medeiros, who founded East Commerce Solutions in 1994 and served as its CEO, said in a statement that he is “excited to increase our product offerings with Payroc’s technology stack and international reach, which will provide the opportunity to drive future growth for both companies.”
Medeiros did not return a request for comment this week. It is not clear from the announcement how the acquisition will impact his title and role with East Commerce Solutions.
Prior to its acquisition, East Commerce Solutions served clients throughout the U.S. and had $2 billion dollars in annual processing volume, according to an announcement by Payroc.
“Ed and his team have built a well-established and respected name in the industry and share a mutual vision with Payroc that people do business with people,” James Oberman, CEO of Payroc, said in a statement. “We look forward to enhancing our offering through our joint broad suite of products and value-added services on a global scale.”
Payroc processes over $40 billion in annual charge volume and serves more than 110,000 merchants.
Payroc did not respond to a request for further comment.
Jacquelyn Voghel is a PBN staff writer. Contact her at Voghel@PBN.com.
