OSG Billing Services (OSG), an omnichannel billing and payment solutions provider based in New Jersey, has wrapped up the purchase of Florida-based payments solutions provider Paybox, for an undisclosed sum.
Paybox currently processes transactions worth over $160bn per year. The company will now become a subsidiary of OSG and will continue to operate under the leadership of president Matthew Oakes.
“Our technologies bring a new level of expertise to OSG and its customer base that enhance their service offerings while giving us an opportunity to continue to innovate,” Oakes noted.
OSG chairman and CEO Scott Bernstein said: “This strategic acquisition is fully aligned with our strategy of integrating innovative technologies across the OSG platform.
“The combination of Paybox’s powerful accounts receivable and accounts payable workflow management solutions with OSG’s existing integrated payment and B2B offerings will strengthen our position as a partner of choice for technology-driven, transactional and customer communications solutions. We are excited to have the Paybox team join the OSG family.”