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First American is a privately-owned large-scale payment processor that facilitates payments in-store and online. It provides tools and solutions to merchants and partners that help people navigate the various payment channels. With the purchase of First American, Deluxe is anticipating it will double the annual revenue of its payments unit and establish the company as a leader in the payments industry.
“The addition of First American’s independent, leading payments platform will advance our One Deluxe strategy and our overall growth trajectory,” McCarthy said. He added that Deluxe processes in excess of $2.8 trillion payments annually and is an “integral part” of the payments space. With First American’s platform, McCarthy said he sees “significant cross-sell opportunities” that will benefit shareholders.
