SnapCheck, the multi-award platform for business payments modernization, today announced that it has entered into a definitive agreement to be acquired. The buyer is an investment group aligned exclusively with Payroc World Access. By combining the transformative SnapCheck platform with Payroc’s recently acquired ACHeck21 Fintech Cloud solution, the buyer foresees the emergence of an entirely new dimension in payments.
SnapCheck is a high speed, highly secure, and universally accepted solution dedicated to eliminating paper checks. Created as an open-ecosystem platform for paying anyone anywhere with the familiar form of a check, but without all the problems inherent in paper, the SnapCheck Digital Checking Platform gives businesses, banks, and consumers collectively the opportunity to save over $50 Billion a year in costs.
Sam Ackley, GM of Payroc’s ACHeck21 division, stated: “We have worked with SnapCheck for several years, and together have brought to market a number of innovations that have provided significant savings and payments improvements for businesses across the country. We are impressed and fascinated by their technology, and see the SnapCheck Digital Checking Platform as the missing link to eliminating paper checks.”
Ken Kruszka, CEO of SnapCheck, added: “With a reach into over 40 countries, and serving over 100,000 merchants, Payroc/ACHeck21 offers a market access opportunity beyond our wildest dreams. Marrying together the SnapCheck platform with their already best-in-class payment processing technology will help springboard our mission to modernize business payments in the US and around the world. We’re excited about this new future together!”
Founded in 2015, SnapCheck has garnered a number of awards including:
– Featured startup at Money2020
– Selected as Best Payments API by API:World
– Recognized by KPMG as a Top 20 Global FinTech Startup
– Inducted into the BBVA Walk of Fame
– Chosen as a RedHerring Top100 North America Winner
– Named a Top Fintech Innovation Trend by NetGuru
For more information on the acquisition, please contact ACHeck21.