Canada’s Paramount Commerce acquires Clik2pay

Canadian bank account-based payment partner Paramount Commerce has acquired Clik2pay, an account-to-account payments platform, as part of its diversification strategy.

According to Paramount Commerce, the strategic acquisition is “a significant step forward”, broadening the alternative payment solutions at its disposal and boosting its presence in high-growth markets.

Clik2pay’s real-time payment options cater to e-billing, collections, ecommerce and small business, while among the features offered by Clik2pay are payment scheduling and adaptable payment amounts.

Clik2pay is integrated with platforms including Shopify, Xero, Magento and Salesforce’s ‘Commerce Cloud’, and has corporate clients across telecoms, lending and collections.

“Clik2pay will improve Paramount’s range of bank account-based payment solutions and fuel our objective of entering new high-growth markets,” said Dave Roe, chief operating officer at Paramount Commerce.

“This acquisition equips Paramount Commerce with a range of new products and features, along with platform integrations, supplier connections, and team proficiency to expedite our aggressive diversification strategy.”

Paramount Commerce has processed in excess of $100 billion in volume, with its technology used by millions of consumers.

Details of the deal have not been disclosed.