Merchant services provider MiCamp Solutions has purchased payments processing company American Bank Payments, in conjunction with joint venture partner Twenty20 Payments, according to a press release emailed to PYMNTS.
An independent sales organization (ISO), American Bank Payments works with numerous retailers and strives to offer payments processing and other business solutions in U.S. industries. The Fort Lauderdale, Florida-headquartered company also said it collaborates with merchants across many industry verticals.
The combined entity will cooperate moving forward, tapping a mutually beneficial partnership that includes MiCamp’s innovative WAVit solution. MiCamp’s new tool offers merchants the ability to drop credit card fees to zero. WAVit technology has already been added to numerous accounts in American Bank Payments’s portfolio, according to the press release.
“We are excited to acquire American Bank Payments and add its portfolio to ours,” said MiCamp Founder Micah Kinsler. “Our mergers and acquisitions provide a cost-effective way of adding a substantial number of new accounts to MiCamp’s portfolio, providing substantial leverage in pricing negotiations with Fiserv.”
MiCamp Solutions is a FinTech founded in 2007 and headquartered in Scottsdale, Arizona. The company has 17,000 clients around the world and processes some 9 billion payments each year.
In a PYMNTS interview in October 2020 with Karen Webster, Jim McCarthy, president at i2c, said the digital-first landscape will lead to more mergers and acquisitions, from collaborations to direct purchases.
He pointed to the Amazon “pay by hand” era now moving forward into more areas. “The mobile device is the chief conduit toward staging transactions, to getting goods delivered curbside or to the house. On the B2B side, we’re (slowly but surely) moving beyond the age of the paper check,” he said.