Celero Commerce snaps up Precision Payments for undisclosed sum
US-based fintech Celero Commerce has acquired Precision Payments, a provider of electronic payment solutions for small and medium-sized enterprises (SMEs), for an undisclosed sum.
Celero buys Precision Payments for undisclosed sum
Founded in 2009, Precision Payments offers an array of payment solutions including Point-of-Sale (POS) systems, credit card processing services, and a cash discount programme.
Celero says the acquisition strengthens the company’s “presence within the multi-lane retail industry and broadens its network of sales professionals serving local communities across North America”.
Headquartered in Nashville, Tennessee, Celero provides its over 55,000 customers with business management software, payment processing services, and data intelligence.
After integrating Precision Payments, Celero says it expects its annual North American card processing volume to surpass $28 billion.
Speaking on the deal, Joel King, founder of Precision Payments, states that joining Celero will see its clients gain access to an expanded range of products and services that will “improve our ability to support their growth”.
The move follows Celero’s 2022 acquisition of Community Bankers Merchant Services (CBMS), a provider of electronic transaction processing for community and regional banks, also for an undisclosed sum.
