Wednesday, January 31, 2024

PaymentCloud Acquired By Electronic Merchant Systems

Los Angeles-based PaymentCloud a provider of payment service providers, has been acquired by Cleveland-based Electronic Merchant Systems. Financial terms of the acquisition were not announced. According to Electronic Merchant Systems, the acquisition will be a "significant expansion of its technology stack". PaymentCloud was founded by Shawn Silver and neal Hoffman; Electronic Merchant Systems says that Silver "founded PaymentCloud from his garage in Los Angeles".

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