Sage Payment Solutions has undergone a rebranding and it will be operating with its new name, Paya (pronounced pie-ya). The name change comes after the acquisition of the company in June of 2017 by GTCR for $260 million.
Sage Payments is Now Paya
As part of the rebranding, Paya will be focusing on innovation in the fintech segment and expanding its channel partner program. Considering how much GTCR said it will invest to make this possible, Paya will be a player to be reckoned with in the near future.
The fintech market is populated with many different companies providing services that specifically address small businesses. Everything from mobile POS to paying freelancers remotely with flexible payment choices are features these businesses count on to run their daily operations and stay competitive.
When GTCR purchased Sage Payment Solutions, it said it was going to invest $350m in the division. The investment is going to be used to make the company, “Become the foremost technology platform helping companies run their businesses better,” This according to Joe Kaplan, Paya CEO.
In the press release, Kaplan added, “Our mission is to deliver new technologies to the market and offer innovative, integrated payment solutions that will help our customers simplify business complexity and concentrate on growing their business.”
The channel partner program will also benefit from the investment, as the company said it is going to add new, robust tools and assets with the goal of monetizing new and existing opportunities.
The Paya Partner Program is going to be looking to technology providers, referral organizations, and independent sales organizations (ISOs). By pursuing participation with these groups, the company wants to leverage the assets and benefits of the partner program and its omnichannel solutions platform.
Paya will continue to provide payment solutions for businesses of all sizes so they can operate on-site, online, or on the go.
Paya was divested from former parent company Sage Software in August 2017.
Who is GTCR? They must be pretty big given the numbers being tossed around, but I’ve never heard of them.
On the rebrand, I think that it’s a good name. Short, easy to pronounce and memorable.
GTCR is private equity firm based in Chicago that has invested more than $15 billion in over 200 companies.
There is really something about brands that have the word ‘Pay’ in it huh? I guess it may work but we will see.