Deal includes portfolio purchase plus launch of CampusConnect
Chantilly, VA… December 3, 2015 – Virginia-based ISO Direct Connect announced today that it has acquired a merchant portfolio from PayLogic, and will continue to work with the ISO to ensure its future growth and development.
The purchase is in keeping with Direct Connect’s commitment to growth via acquisition and/or the infusion of investment capital and resources, according to Senior Vice President Garima Shah, who manages acquisitions for the ISO.
PayLogic was founded by Sam Avello, “an experienced payments professional who is also quite visionary,” Shah said. She pointed to the company’s CampusConnect program, which provides a portion of credit card sales to athletic programs at the universities selected by participating merchants. PayLogic will use some of Direct Connect’s investment capital to market and grow the program.
Shah noted that Direct Connect differentiates itself by “fully supporting our ISO sales partners, not only with state-of-the-art products and industry-low rates, but also with working capital, hands-on executive involvement, and true sales generation.” In addition to Paylogic, she said Direct Connect is continuing to look for ISOs and portfolios that fit the company’s unique vision and partnership model.
We have the resources to offer sound potential partners the best deals in the marketplace,” she said.
About Direct Connect
Based in the Dulles Corridor of Northern Virginia, Direct Connect is an ISO that provides payment processing and merchant services to businesses across the United States and Canada, including retail, restaurant, government contractors and service industries. Through a robust partner program, Direct Connect works with financial institutions, non-profit organizations, associations and software developers to incorporate payment solutions and enhance customer service. With a 20+-year history and more than 25,000 merchants in its portfolio, Direct Connect was recapitalized in 2014 by The Beekman Group, a New York City-based private equity firm that now owns a majority position in the company and positions us well to meet the ever-changing demands of the industry.