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Fortis acquires MerchantE's NetSuite Division

Wednesday, July 24, 2024 — 10:15:29 (EDT)

PLANO, Texas, July 24, 2024 /PRNewswire/ -- Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses, today announced its acquisition of MerchantE's NetSuite payments division, marking a significant milestone in the evolution of embedded payment solutions. This strategic addition will help customers enhance the efficiency of their payment operations and accelerate the deployment of new, embedded financial and commerce enabling services.

The acquisition strengthens Fortis' position as a leader in embedded ERP payments while reinforcing its commitment to ensuring dependable, hassle-free commerce experiences for customers. Since 2004, MerchantE has been a pioneer, driving payments acceptance within the NetSuite ERP ecosystem. Now with Fortis, the legacy is continued. MAPP Advisors, a fintech advisory firm, advised MerchantE on this transaction.

Current and future Fortis users can expect seamless activation and enhancements with zero programming or implementation costs. This means businesses can start processing payments or add new features when available immediately, with transactions automatically posting back to the general ledger for simplified use and accounting. Transactions are automatically reconciled, keeping all payment data in one place, making things efficient for end users.

"As we transition to the Fortis platform, I am truly excited at what this will mean for our customers and future customers. Our legacy users can expect the same great service plus new, enhanced features. We are excited to be a part of the next chapter of embedded ERP payment processing," says Jeremy Collins, Vice President of Business Development and NetSuite Channel, Fortis.

Future forward, Fortis is committed to enhancing the current and future user payment experience with a host of exceptional features, including:

Expanded payment options and next-day funding capabilities for greater flexibility Advanced Interchange Optimization including Level 2 and 3 processing Click-to-pay invoicing and Accounts Receivable enhancements Compliant Surcharging and routing preference capabilities eCommerce and Shopping Cart integrations for omni-channel integrated support Security and reliability including full PCI and SOC Compliance

"We are thrilled to continue the legacy established by MerchantE. As a leader in ERP and B2B payments, we look forward to expanding our investment in the NetSuite ecosystem with a robust pipeline of feature enhancements," says Greg Cohen, CEO, Fortis.

Press Contact Oliver Stephenson Oliver.stephenson@fortispay.com

About Fortis

Fortis is the leader in embedded payments for software providers, processing billions of dollars annually by delivering comprehensive payment solutions and commerce enablement to software partners and developers. The company's mission is to forge a holistic commerce experience, guiding businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves commerce closer to invisible with a proprietary platform that supports and strengthens the commerce and payments capabilities of software partners. For more information, visit fortispay.com.

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Source: Company press release.