Payroc WorldAccess, LLC (“Payroc”), a leading merchant acquirer and global payment processing organization, announced today that it has acquired Select Merchant Services, Inc. (d/b/a/ Retriever Merchant Solutions or “Retriever”).
Headquartered in Munster, Indiana, Retriever is one of the largest independent sales organizations of FIS (formerly Worldpay), with over 550 exclusive independent sales agents who deliver over 7,000 new merchants per year. The company employs 60 people and services 30,000 merchants in the retail, wholesale, jewelry, restaurant, service, and professional association verticals, representing approximately $5.0 billion of annual payment volume.
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Brian Kamstra, President of Retriever, founded the company in 1994 and will remain in his leadership role. He shares, “We built a top-notch sales distribution platform, but to stay competitive, we needed the right processing partner to take our technology and product offerings to the next level. We found that, and more at Payroc. When you combine those specific needs with Payroc’s impeccable integrity, we knew we had found the right home,” said Kamstra. “There’s not a better company in the industry right now, than Payroc, and we are blessed to have joined their team.”
James Oberman, CEO of Payroc stated, “We couldn’t be more thrilled to welcome Retriever into the Payroc family. I have personally known Brian for over 45 years, and what he and his team have built is well established and respected in the industry. We look forward to enhancing their offering through Payroc’s broad suite of products and value-added services on a global scale.”
Payroc and Retriever will launch this partnership by focusing efforts in multiple strategic areas: common sense underwriting and Risk management, modern APIs, global device connectivity, and Payroc’s flagship Consumer Choice program. This technology influx also includes access to Payroc’s new engineering & innovation hub in the United Kingdom, where Payroc announced it would create 75 new jobs.
With this acquisition, Payroc will expand its annual payment volume to over $33 billion and service over 100,000 merchants. Payroc is backed by private equity firm Parthenon Capital who assisted Payroc in completing this acquisition.
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