Onyx Payments Acquires Worldwide Payment Systems
Onyx Payments, the payment processor for hotels and travel distributors, has announced that it has acquired the Spain-based Worldwide Payment Services (WPS), a provider of international payment processing.
Innovative technologies and a strong customer base have earned WPS a global name in hospitality data and payment processing. The two companies have been strategic partners serving joint customers for a number of years and have co-marketed a leading travel agency commission collection product that has served joint customers since 2012. Today’s announcement is a natural extension of this joint partnership and is an opportunity to fulfill the vision each company actively seeks to bring to the travel industry.
The announcement comes on the heels of the company’s acquisition of Net Trans Services last month. With three strong companies uniting together, the new Onyx Payments provides leading payment processing and reconciliation services to the marketplace. Onyx now boasts the industry’s best technology, people and processes to address the global, end-to-end commerce payment needs of the travel industry. As a result, the new company will eliminate payment processing and reconciliation barriers and improve efficiencies, while increasing commerce transparency between hotels and travel distributors. Over the coming months, the company will communicate how new and existing travel distributor and hotel customers will be able to take advantage of its evolving and innovative solution set.
In April of 2013, H.I.G. Capital (a global private investment firm with more than $17 billion of capital under management) acquired Onyx Payments with a commitment to provide the financial strength to be the best in class payment and commission reconciliation processor. This merger is a further advancement towards achieving the strategy.
Innovative technologies and a strong customer base have earned WPS a global name in hospitality data and payment processing. The two companies have been strategic partners serving joint customers for a number of years and have co-marketed a leading travel agency commission collection product that has served joint customers since 2012. Today’s announcement is a natural extension of this joint partnership and is an opportunity to fulfill the vision each company actively seeks to bring to the travel industry.
The announcement comes on the heels of the company’s acquisition of Net Trans Services last month. With three strong companies uniting together, the new Onyx Payments provides leading payment processing and reconciliation services to the marketplace. Onyx now boasts the industry’s best technology, people and processes to address the global, end-to-end commerce payment needs of the travel industry. As a result, the new company will eliminate payment processing and reconciliation barriers and improve efficiencies, while increasing commerce transparency between hotels and travel distributors. Over the coming months, the company will communicate how new and existing travel distributor and hotel customers will be able to take advantage of its evolving and innovative solution set.
In April of 2013, H.I.G. Capital (a global private investment firm with more than $17 billion of capital under management) acquired Onyx Payments with a commitment to provide the financial strength to be the best in class payment and commission reconciliation processor. This merger is a further advancement towards achieving the strategy.