Payment Plus, Inc.

Payment Plus, Inc. specializes in providing a versatile payment processing platform designed for diverse partners, facilitating seamless transactions across multiple channels including in-person, mobile, eCommerce, and unattended solutions. Founded in 1999 and headquartered in Paducah, US, Payment Plus, Inc. operates within the payment processing sector.

In May 2019, NXGEN Payment Services, Inc. , a portfolio company of Parthenon Capital Partners, acquired Payment Plus, Inc. The company has completed one deal to date. Payment Plus offers a comprehensive payment processing platform tailored for partners across various industries.

The core product suite includes a unified technology platform that supports omnichannel payment methods, encompassing in-person, mobile, eCommerce, and unattended payment solutions. With a focus on seamless integration and adaptability, Payment Plus's platform allows merchants to accept a diverse range of payment types, ensuring convenience for both end-users and businesses. The company serves a broad client base, including independent software vendors (ISVs), retailers, and professional service firms, across geographical markets such as the United States, Canada, Australia, and the United Kingdom. Payment Plus's extensive portfolio positions it as a strategic partner for businesses seeking to enhance their payment processing capabilities while maintaining compliance with industry regulations.

Payment Plus generates revenue primarily through transaction fees and partnership agreements within its payment processing ecosystem. The company implements a transaction structure that includes both subscription-based services and fees for processing payments across various platforms. For instance, merchants utilizing Payment Plus's Integrated Payments Platform benefit from services such as Next Day Funding, which facilitates quicker access to funds following a transaction. Pricing structures are typically defined by the services utilized, including payment gateways, virtual terminals, and additional offerings tailored to specific industry needs.

Payment Plus's robust service delivery ensures that clients, including law firms and accounting practices, can rely on efficient transaction processing while managing their operational costs effectively. Payment Plus is focused on expanding its product offerings and market reach. The company plans to enhance its platform capabilities by designing new products expected to launch by the end of 2023. Furthermore, Payment Plus aims to enter new geographical markets such as Europe and Asia by 2025, leveraging recent funding to support these expansion initiatives.

The acquisition by NXGEN Payment Services in May 2019 positions Payment Plus to utilize increased resources for growth and development in the evolving payment processing landscape.