Fintech Acquires Nexxus Group

Key Bullet Highlights:

• Fintech acquires The Nexxus Group to expand B2B payment capabilities.
• Enhanced scan-based trading technology for convenience, grocery, and big-box retail.
• Over 1.1 million business connections utilizing Fintech's payment automation solutions.

Source (Business Wire)

Notable Quotes:

• "We are pleased to add Nexxus Group’s payment capabilities to our B2B payments platform. Combining their leading payment technology for scan-based trading and consignment selling with Fintech’s invoice payment automation software, we can now process and pay all invoice types for retailers of any size.” — Tad Phelps , CEO at Fintech
• "We are excited to contribute to the growth and success of Fintech’s technology portfolio. The resources afforded to us through this combination, in conjunction with Fintech’s recent acquisition of iControl, will accelerate our growth in scan-based trading and consignment selling while supporting Fintech as the leader in B2B payments.” — Mark Landgren , CEO at Nexxus Group

Our Take:

The acquisition of Nexxus Group by Fintech marks a significant advancement in B2B payment capabilities for the hospitality and retail industries. By integrating Nexxus Group's sophisticated scan-based trading technology, Fintech is poised to offer enhanced consignment selling solutions, resulting in reduced inventory costs, increased sales visibility, and expedited market reach for retailers and vendors. This strategic move not only solidifies Fintech's leadership in payment automation but also underscores its commitment to innovation and growth in the B2B payments sector.