Payscape, an awardwinning financial technology company (payscape.com), and Vendevor, an ecommerce platform and mobile app for selling across multiple sales channels, including web, mobile, social media, brickandmortar
locations, and popup shops today announced that they have entered into a definitive agreement under which Payscape will acquire all the assets of Vendevor.

According to statista.com , "In 2016, global B2C ecommerce sales are expected to reach $1.92 trillion dollars." Payscape’s acquisition of Vendevor will further its’ mission to procure an innovative SaaSbased product portfolio that simplify the merchant experience as well as capture a portion of this $1.92 trillion dollar market.  To date, Payscape has incorporated an online invoicing and registration platform backed by their secure payment gateway. Vendevor will round out the digital landscape and enable companies to transform how they connect their sales, services and payment processing, online or via an iOS device.

The combination of Vendevor and Payscape will increase value proposition that customers of both companies will receive. Payscape customers including small to mediumsize business of all industries will be able to utilize their current merchant accounts to open a comprehensive ecommerce store for their business. They will also have the added bonus of being able to manage and update their account mobily. Vendevor customers, will receive the benefit of cheaper processing costs and transaction fees, as well as a secure, PCI compliant, payment gateway owned and operated by the same parent company with an award winning customer service team.

Comments:

● Jeremy Wing, President & CoFounder at Payscape: “The addition of Vendevor makes Payscape the starting point for every SMB merchant and puts us in an opportune position to streamline the other aspects of their business.”

● Douglas Hardman, CTO at Payscape: “Vendevor’s mission is to make it unbelievably easy to start selling online and accepting credit cards. This was an ideal fit into the Payscape technology roadmap.”

● David Grubbs, former CEO at Vendevor: “Payscape’s amazing team and their rich portfolio of existing merchant services made it a perfect home for Vendevor’s existing clients and plugandplay ecommerce solutions.”

New pricing for the software will not follow the traditional model of tiered packages based on enabled features, sales volume, or inventory. Instead, Vendevor will consist of one package at $29 per month, plus a credit card rate of 2.9% and 29¢ per transaction fee ($29, 2.9%, 29¢). This model will simplify the merchant experience by offering guaranteed monthly pricing regardless of growth or other changes in the business.