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Paystone Gains Leader Auto Resources (LAR Inc) Partnership Through Swift Payments Acquisition to Deliver Enhanced Growth Solutions for Automotive Sector

LONDON, ONTARIO & MONTREAL, QUEBEC, August 10, 2020 - Paystone, a leading payments and software company, today announced an enhanced partnership with Leader Auto Resources (LAR Inc.), North America’s largest automotive buying group. This partnership expands the company’s footprint in the automotive industry by an additional 2,000 merchants and comes as a result of Paystone’s recent acquisition of Swift Payments, a Canadian merchant services provider specializing in solutions for the automotive sector.

"A partnership with LAR Inc. provides Paystone with an exciting opportunity to significantly grow and advance business within the automotive sector," says Tarique Al-Ansari, CEO of Paystone. "We will be able to offer automotive merchants new ways to streamline their customer engagement efforts and automate loyalty programs with integrated payment processing."

"Our mission at LAR Inc. is to provide dealers with unrivaled technology solutions designed to enhance their overall profitability," says Andrew Wells, General Manager of LAR Inc. "This strategic partnership will further our mission, bring additional value to LAR Inc. members, and give our dealers access to Paystone’s unique growth and customer engagement solutions."

By integrating Paystone’s platform with Swift Payments’ point of sale solutions, automotive businesses will now have the ability to automate their marketing efforts and increase customer loyalty directly from their existing payment terminals. It also provides franchise dealerships and licensed autobody shops with access to additional technology solutions and Canada-wide onsite support services that will boost business growth.

In addition to its partnership with LAR Inc., Paystone has also named former Swift Payments VP of Sales/Co-Founder, Dino Halbouni, as the company’s VP of External Sales.

"We’re excited to welcome Dino Halbouni to the Paystone family," says Al-Ansari. "Dino has done some amazing work building Swift Payments, and his experience in the industry will be tremendously valuable in strengthening our external sales channels."

Paystone continues to develop its software platform to deliver greater value and growth tools for businesses. Swift Payments marks the company’s fourth acquisition since the third quarter of 2019.

About Paystone

Paystone is a leading payment and software company redefining the way merchants engage their customers and grow their businesses. The company's seamlessly integrated suite of automated payment processing, customer loyalty, and gift card solutions is used by brands such as Irving Oil, The Source, Booster Juice, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group's restaurant brands. Paystone's solutions are used at over 25,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bank-card volume. The fintech company employs 100 employees and works with over 50 sales partners across Canada. 

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