Paysafe, a leading specialized payments platform, has partnered with Celero Commerce, a vertically focused, integrated commerce solutions provider headquartered in Nashville, Tennessee. Under the partnership, Paysafe will support Celero Commerce’s independent sales organizations (ISOs) as they expand into highly regulated online commerce verticals.
The new partnership with Celero Commerce, which was founded in 2018 and currently serves approximately 25,000 American merchants, builds on Paysafe’s more than 20-year history of helping US-focused ISOs grow and diversify their payment portfolios. Celero Commerce-owned ISOs – including UMS Banking, which was acquired in Q4 2018, as well as Elmhurst Financial Services and Tandem Innovative Payments Solutions, both acquired in Q2 2019 – will now benefit from Paysafe’s experience tailoring payments solutions for ISOs to enter and succeed in niche eCommerce verticals.
Paysafe will provide Celero Commerce’s ISO portfolio and its more than 150 financial institution partners with robust know your customer (KYC) and risk management processes, underwriting, streamlined onboarding, and payment processing through Paysafe’s state-of-the-art proprietary and third-party payment gateways.
O.B. Rawls, CEO of Global Payment Processing at Paysafe, said: “We’re confident that our specialization in the verticals in which Celero operates, combined with our wider experience in card-not-present payments in the US market, will lead to strong revenue growth and an enduring business relationship.”
Kevin Jones, CEO of Celero Commerce, commented: “We are excited to partner with Paysafe to start our Strategic Acquiring Channel. Our financial institution partners value every customer relationship, and this platform will enable us to support them even more.”