Zomaron Acquires DataCandy and Rebrands as Paystone to Become a North American Powerhouse in Customer Engagement Solutions
November 04, 2019
LONDON, ONTARIO & MONTREAL, QUEBEC, November 5, 2019 - Zomaron, a leading Canadian fintech firm, and DataCandy, a leading Montreal-based gift and loyalty solution provider, have joined forces and will carry out all business operations under the name Paystone, effective today.
Paystone is a market leading provider of customer engagement solutions for North America processing 60 million transactions annually. Its expansive portfolio consisting of payment processing, customer loyalty, and gift card solutions is used at over 25,000 merchant locations across Canada and the United States, by brands such as Irving Oil, The Source, Transat Distribution Canada Inc. and The ALDO Group. With headquarters in London, Ontario and Montreal, Quebec, Paystone can now provide products and services in both English and French.
In addition to DataCandy, the 2019 acquisitions of Alberta-based merchant services provider POS West ltd., and the merchant portfolio from British Columbia-based NXGEN-Canada helped Paystone generate a customer base growth by five-fold.
"We brought these companies together because we want to disrupt the payments and loyalty industries," says Tarique Al-Ansari, CEO of Paystone. "These acquisitions tie together complementary software solutions that will enable Paystone to create proprietary products that will further enhance our value proposition and accelerate our ongoing growth efforts."
In 2019, Paystone made Canadian Business and Maclean's Growth 500 ranking for the fourth consecutive year, and with 336 percent revenue growth, was recognized as one of Canada's Top Growing Companies by The Globe and Mail.
According to Al-Ansari, Paystone continues to actively research viable acquisition opportunities that will further support the company’s mission and end-goals. "We are committed to becoming a trailblazer in the payment and software sector, and this is just the beginning. Maintaining an acquisitive mindset is key for our product roadmap and growth strategies," says Al-Ansari.
Paystone is a leading provider of secure, user-friendly customer engagement solutions that help North American businesses of all sizes turn everyday transactions into meaningful customer interactions. The company's seamlessly integrated suite of automated payment processing, customer loyalty, and gift card solutions is used by brands such as The ALDO Group, The Source, Booster Juice, Global Pet Foods, Kernels Popcorn, and 50 of the MTY Food Group's restaurant brands. Paystone's solutions are used at over 25,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bank-card volume. The fintech company employs 150 employees and works with over 100 sales partners across Canada. Visit www.paystone.com for details.