Banc of California Gets Into Merchant Acquiring With Global Payroll Gateway Buy

Banc of California has bought the payments platform and tech of Global Payroll Gateway and its subsidiary Deepstack, giving it a one-stop shop solution for payments for merchants to get funds faster and access more visibility, a press release said.

Deepstack is a differentiated software-led and eCommerce pay platform giving clients payment solutions such as merchant processing, payments acceptance and disbursements, tokenization, virtual accounts, fraud protection tools, chargeback management, and reconciliation and reporting services.

With the buy, Banc of California will offer payment processing to various business clients seeking solutions to embed payments. Jared Wolff, President and CEO of Banc of California, said the idea was to keep offering cutting-edge treasury management and deposit solutions.

“The acquisition of Deepstack expands our business into payment processing and furthers our strategy to grow fee-based income in a scalable and meaningful way,” Wolff said. “Deepstack’s client-centric technology platform will enable us to offer existing and new clients a best-in-class transaction processing solution.”

Jayme Amirie, President of Deepstack, said the goal was to help clients and “seamlessly integrate and monetize their platforms, while giving clients faster access to funds from credit card receivables, same-day account visibility, and better reporting and account reconciliation.”

In May, Banc of California also teamed up with Finexio, the AP Payments-as-a-Service platform, PYMNTS wrote.

Read more: AP Platform Finexio Teams Up With Banc of California

This partnership will see the bank’s Banc PremierePay product, powered by Finexio, helping customers cut down on AP costs and inefficiencies. The solution also purported to offer big time savings, better visibility, virtual card payments, control and security, and, eventually, embedded cash flow management products like supply chain finance and credit lines.

Finexio’s platform will be embedded into the bank’s treasury management and commercial lending offerings. They’ll expand benefits and service capabilities offered for clients in hospitality, healthcare, legal, entertainment, manufacturing and construction.