Exectras, PayCompass, and Simpay will merge operations on October 1 to offer integrated merchant processing and healthcare benefits, seeking to drive growth amid ongoing industry consolidation.
PayCompass is combining with Simpay and Exectras to form a new payments and healthcare services entity under Exectras leadership.
Simpay is joining PayCompass and Exectras in a new venture to offer processing and healthcare services to merchants.
Exectras is the surviving brand and leader of the new combined payments and healthcare services entity.
Exectras, PayCompass, and Simpay are consolidating operations to launch a combined payments and healthcare services venture on October 1. Led by Exectras CEO Joe Cherry, the new entity aims to leverage integrated distribution channels to combat industry-wide margin pressure and hardware discounting.
The companies aim to combine their respective payments and healthcare service capabilities to deepen merchant relationships and generate recurring revenue in a consolidating market.