TriSource Solutions, LLC

TriSource Solutions, LLC provides innovative payment processing solutions, focusing on enhancing transaction capabilities for Independent Sales Organizations (ISOs) and Payment Facilitators to improve autonomy and operational efficiency. Founded in 1995 in Bettendorf, US, TriSource Solutions, LLC is dedicated to providing payment processing services. In August 2019, the company was acquired by Repay Holdings, LLC for approximately USD 65 mn. The acquisition marked a strategic pivot to enhance their offerings under the REPAY brand while maintaining the core services known to clients.

No specific information about the founder or previous entrepreneurial activities is available. REPAY, formerly known as TriSource, specializes in offering a proprietary clearing and settlement platform designed to provide Independent Sales Organizations (ISOs) and Payment Facilitators with enhanced autonomy and flexibility compared to traditional large acquirer programs. Their main services include transaction processing, reporting tools, and robust customer support, all aimed at delivering a tailored payment solution for their clients. The platform is equipped with a powerful payments engine that facilitates seamless transaction processing, catering primarily to businesses in the North American market.

REPAY serves a diverse clientele including ISOs, payment facilitators, and their end users, which encompass merchants across various sectors looking for reliable payment solutions. By adopting the REPAY brand, the company continues to deliver the same quality of service that TriSource was known for, ensuring continuity in customer relationships and experience. REPAY generates revenue by providing transaction processing services to its clients, structured primarily through partnerships with ISOs and Payment Facilitators. Clients typically engage in a business relationship where they utilize REPAY’s platform to facilitate payments, resulting in transaction fees that contribute to the company's revenue.

The structure often involves service agreements that may include specific pricing for transaction processing, ongoing support, and customized reporting services. REPAY’s flagship offerings are designed to optimize financial transactions for its clients, enhancing operational efficiency while maintaining competitive pricing in the payment processing landscape. The combination of high-touch service and advanced technological solutions positions REPAY as a key player in the payment processing market, strongly appealing to businesses seeking scalable and effective payment solutions. Following the acquisition in August 2019, REPAY is focused on enhancing its product offerings and entering new markets.

The recent funding will support the development of additional services aimed at improving transaction efficiency and customer experience. Strategic plans include expanding into international markets, particularly targeting Europe and Latin America by 2024, to capture a broader clientele and increase market share. The investment from Repay Holdings, LLC will facilitate these initiatives, ensuring that REPAY remains competitive and innovative in the payment processing landscape.