PITTSBURGH – April 30, 2019 — Pineapple Payments, a payments technology company, announced today its strategic acquisition of Beacon Payments, a Boston-based merchant services provider. This adds more than a billion in annual payment processing volume to the Pineapple Payments platform and provides Beacon Payments capital to equip further investment and enable continued growth. Terms were not disclosed.
Beacon Payments, founded in 2008 by Jerry Kadish and David Selenow, bring substantial payments experience alongside best-in-class service. Experiencing tremendous success during the last decade, Kadish and Selenow have led Beacon through periods of notable growth and will continue to operate and oversee the business and operations.
“We’re excited to join forces with Pineapple Payments because it provides us access to innovative payment technologies that we haven’t been able to offer before. Being able to leverage Pineapple Payments platform enables our partners with products like online invoicing, hosted payment pages, and a QuickBooks integrated application that can secure new merchant opportunities and empower us to approach new industries,” said Kadish, Beacon Payments Co-founder.
“The support from Pineapple Payments means we can expand our services and invest back into our current and prospective partners to help them grow their businesses as well” added Selenow, fellow Beacon Payments Co-founder.
Pineapple Payments is co-founded by CEO, Brian Shanahan, an industry veteran with a history of building and exiting 3 different payments companies to NASDAQ and founding a fourth in the publicly traded payments company, CardConnect, which he sold to First Data. Shanahan is supported by President and Co-founder, Jon Halpern, who played an active role in securing the new partnership.
“Beacon Payments has an impressive partner program and great longstanding relationships with their partners and merchants. We’re eager to grow our network together with the sales and distribution channels that Beacon brings” Halpern added, “We plan to drive new sales to Beacon through our proprietary payments technology and solutions.”
While the partnership and the prospects it brings forth are promising for both companies involved, the benefits reach beyond the companies and on to their merchants. Sharing the same commitment to customer service and payments concierge, merchants will have even more access to in-house dedicated payments and technology teams. Coupled with meaningful cost-savings and value-added tools, it’s a win for everyone.
ABOUT PINEAPPLE PAYMENTS
Pineapple Payments is a Pittsburgh, Pennsylvania-based payments technology company that provides payment processing, proprietary technology, and omni-channel payment acceptance solutions for merchants of all shapes and sizes. Its core payment gateway and suite of value-added payments tools are distributed by resellers nationwide, including some of the largest payment processing companies and Independent Sales Organizations. Pineapple offers both API based and out-of-the-box solutions for everything from Hosted Payment Pages and Recurring Billing to online Invoice Management and a QuickBooks® Integrated Application. In 2017, Pineapple Payments received substantial investment for accelerated growth from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm.
ABOUT BEACON PAYMENTS
Beacon Payments is a Boston, Massachusetts-based merchant services provider. Founded in 2008, Beacon Payments is a leader in the payment processing industry. Serving merchants of all industries and providing merchant accounts of all types, Beacon’s core products include credit/debit card processing services and equipment, gift and loyalty card programs, payroll processing with tax filing, and alternative sources for accessing business capital.