i3 Merchant Solutions
- Company typePrivate
- Founded2002
- HeadquartersCincinnati, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingSoftware
i3 Merchant Solutions firmographics
Firmographics- Name
- i3 Merchant Solutions
- Legal name
- Payroc LLC
- Website
- https://i3merchant.com
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
i3 Merchant Solutions industry classification
Industry- Product category
- Payment Processing Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- akta.pro primary industry
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF), Marketplace & Platform Payments (Split Payments, Sub-merchants) (FSAMACAG), Cross-border Payments & FX for E-commerce (CRAFALAF)
Keywords
Where i3 Merchant Solutions is headquartered
LocationHeadquarters
- HQ city
- Cincinnati
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
i3 Merchant Solutions business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Payment Processing Fees: Transaction fees charged to merchants for processing credit/debit card payments, ACH transfers, and other payment methods. Revenue is generated per transaction with rates varying by payment type, volume, and merchant category.
- Gateway and Technology Services: Fees for gateway access, API usage, cloud integration, and terminal management services provided to ISVs, SaaS platforms, and enterprise merchants.
- Partner Revenue Sharing: Residual income and revenue share arrangements with referral partners, ISOs, and agents who bring merchant accounts to the platform.
- Pricing Program Services: Interchange optimization, surcharge programs, and dual pricing solutions helping merchants reduce processing costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Custom pricing based on merchant profile, volume, and business type |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
i3 Merchant Solutions product offering
Product offeringCore offering
i3 Merchant Solutions (operating as Payroc/iTransact) provides a full-stack omnichannel payment processing platform that enables merchants, ISVs/SaaS platforms, financial institutions, and partners to accept and process payments across in-person, mobile, unattended, and ecommerce channels. Core offerings include a unified payment gateway, virtual terminal, ACH/bank transfers, cloud POS device integration, a unified API platform for embedded payments, and add-on modules such as payment links, invoicing, donation acceptance, global payment orchestration, and an AI-powered retail management tool.
Product overview
Payroc is a full-stack payment processing platform built for partners, offering a unified platform-plus-modules architecture. The core offerings include the Payroc Gateway (primary payment processing platform), Virtual Terminal, ACH/bank transfers, Payroc Cloud (cloud POS integration), and a comprehensive API platform for embedded payments (APIs, Payments API, Boarding API, Funding API, Reporting API). Additional modules include Payment Links, Pricing Programs, Roc Giving (donations), Global Payment Orchestration, Invoicing and Billing, Roc Services (field service), Roc Terminal+, Terminals, and Bodega Ai (AI for retail). The platform supports omnichannel payments across unattended, in-person, mobile, and ecommerce channels, processing 789M+ annual transactions with $125B annual volume across 190K+ clients. Payroc operates as an ISO (Independent Sales Organization) through multiple bank sponsors including Fifth Third Bank, PNC Bank, Wells Fargo, and others.
Differentiator
Problem solved
Functional benefit
Products and services
- Gateway (Payroc Gateway)
- Virtual Terminal
- ACH Payment Processing
- Payroc Cloud
- APIs (Unified API Platform)
- Integration Essentials
- Payment Links
- Pricing Programs
- Roc Giving
- Global Payment Orchestration
- Invoicing and Billing
- Roc Services
- Roc Terminal+
- Terminals (Payment Devices)
- Bodega Ai
- iTransact
Quantifiable outcome
- 789M+ annual transactions processed
- +3 more outcomes
Companies that use i3 Merchant Solutions
Customer profileNamed customers7 records
Segments7 records
Ideal customer profiles5 records
i3 Merchant Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration18 records
AI capability2 records
Feature12 records
i3 Merchant Solutions partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core and minor.
- UIC Payworld and EVEN RechargecoreStrategic EV charging payment solutions partnership combining Payroc's payment processing with UIC Payworld and EVEN Recharge's charging infrastructure.
- iWorQcoreiWorQ integrates Payroc's Integrated Payments Platform into their field service management software, offering Next Day Funding and seamless API integration for their software customers.
- QuickFeecoreQuickFee serves as preferred payment portal for accounting and law firms in Australia and the U.S., utilizing Payroc for card acceptance and compliance navigation with card brand regulations.
- CantaloupecoreCantaloupe (micro markets and unattended retail) partners with Payroc for payment solutions, leveraging Payroc's comprehensive solutions, processes, and support infrastructure.
- Mackay MeterscoreMackay Meters integrates Payroc's API for parking meter payment solutions, with Payroc providing flexibility and customization for their specific requirements.
- Nevada Psychological AssociationminorPartnership to offer credit card processing services to NPA members through preferred rates and dedicated support.
- Banterra BankminorBanterra Bank partnership to offer credit card processing services to bank customers with referral program support.
- First Bank of Highland ParkminorFirst Bank of Highland Park refers commercial customers to Payroc for merchant services.
- National Pest Management AssociationminorNPMA partnership to offer credit card processing services to members with preferred pricing.
- American Academy of Cosmetic SurgeryminorAACS partnership offering credit card processing services to member practices.
- National Wild Turkey FederationminorNWTF partnership to offer payment processing services to members and affiliated businesses.
- Fifth Third BankcoreFifth Third Bank serves as one of Payroc's registered ISO banking partners for merchant account sponsorship in the United States.
- Peoples Trust Company (Canada)corePeoples Trust Company serves as Payroc's registered ISO banking partner for Canadian merchant account sponsorship.
- PNC BankcorePNC Bank serves as registered ISO banking partner for merchant account sponsorship.
- Wells Fargo BankcoreWells Fargo Bank serves as registered ISO banking partner for US and Canadian merchant account sponsorship.
- Citizens BankcoreCitizens Bank serves as registered ISO banking partner for merchant account sponsorship.
- Merrick BankcoreMerrick Bank serves as registered ISO banking partner for merchant account sponsorship.
- Woodforest National BankcoreWoodforest National Bank serves as registered ISO banking partner for merchant account sponsorship.
- KeyBankcoreKeyBank serves as registered ISO banking partner for merchant account sponsorship.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
i3 Merchant Solutions competitors and assessment
Company assessmentDirect peers
- Stripe: Stripe is the dominant developer-first omnichannel payment processor with deep embedded-payments / Stripe Connect capabilities for SaaS and marketplaces. Directly comparable to Payroc on the ISV/SaaS segment with unified APIs, global reach, and a much larger developer mindshare.
- Helcim: Helcim is an SMB-focused payment processor offering omnichannel processing, ACH, and interchange-plus pricing similar to Payroc's Pricing Programs. Comparable on merchant-direct SMB processing and ISV/channel integration model.
- Finix: Finix is a payments infrastructure provider offering PayFac-as-a-service and embedded payment APIs for SaaS platforms. Closely comparable to Payroc's ISV/SaaS pitch with strong developer-first positioning and bank sponsor model.
- Stax by Fattmerchant: Stax is an integrated payment processor targeting SaaS platforms and ISVs with subscription-style pricing and unified APIs. Highly comparable to Payroc's ISV/channel business model and merchant pricing programs.
- Block (Square): Block's Square ecosystem provides omnichannel in-person and online payment processing plus developer APIs and embedded finance. Competes with Payroc across SMB merchants, ISV integrations, and omnichannel POS hardware/software.
- PaymentCloud: PaymentCloud is a high-risk and omnichannel merchant services provider operating heavily through ISO/agent partner channels. Highly comparable to Payroc on ISO-driven merchant acquisition, residual revenue model, and gateway/terminal offerings.
Broad incumbents
- Fiserv (Clover / First Data): Fiserv's merchant solutions (Clover, First Data) provide full-stack processing, POS hardware, and ISV developer platforms at scale. Overlaps with Payroc across payment gateway, POS, and ISV integration use cases but with much broader portfolio and enterprise reach.
- Worldpay from FIS: Worldpay (FIS) is one of the largest global merchant acquirers offering omnichannel processing, gateway services, and ISV/partner programs. Overlaps significantly with Payroc's acquiring, gateway, and channel business but with deeper bank relationships and global scale.
- Heartland Payment Systems (Global Payments): Heartland, part of Global Payments, is one of the largest US merchant acquirers with broad channel-partner focus including ISO/agent and ISV programs. Competes with Payroc across ISO distribution and SMB acquiring at greater scale and brand recognition.
- Global Payments: Global Payments is a top-tier global merchant acquirer and integrated technology provider. Comparable to Payroc on merchant acquiring, gateway, and partner-channel distribution but at vastly larger scale and global presence.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
i3 Merchant Solutions social profiles
Digital presencei3 Merchant Solutions compliance and trust
Trust signalCompliance4 records
i3 Merchant Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
i3 Merchant Solutions leadership team
Management profileNumber of profiles
i3 Merchant Solutions funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
i3 Merchant Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about i3 Merchant Solutions
What does i3 Merchant Solutions do?
i3 Merchant Solutions (operating as Payroc/iTransact) provides a full-stack omnichannel payment processing platform that enables merchants, ISVs/SaaS platforms, financial institutions, and partners to accept and process payments across in-person, mobile, unattended, and ecommerce channels. Core offerings include a unified payment gateway, virtual terminal, ACH/bank transfers, cloud POS device integration, a unified API platform for embedded payments, and add-on modules such as payment links, invoicing, donation acceptance, global payment orchestration, and an AI-powered retail management tool.
Is i3 Merchant Solutions a public or private company?
i3 Merchant Solutions is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was i3 Merchant Solutions founded?
i3 Merchant Solutions was founded in 2002. It employs 1,001 to 5,000 people.
Where is i3 Merchant Solutions based?
i3 Merchant Solutions is headquartered in Cincinnati, United States, in the North America region.
How does i3 Merchant Solutions make money?
Four revenue lines are on record. Payment Processing Fees are the primary driver. The others are gateway and Technology Services, partner Revenue Sharing and pricing Program Services.
Who are i3 Merchant Solutions's main competitors?
Direct peers on record are Stripe, Helcim, Finix, Stax by Fattmerchant, Block (Square) and PaymentCloud. Broad incumbents are Fiserv (Clover / First Data), Worldpay from FIS, Heartland Payment Systems (Global Payments) and Global Payments.
Does i3 Merchant Solutions have an API?
Yes. Payroc offers a unified API platform for embedded payments. The platform includes APIs for Payments, Boarding, Funding, and Reporting. Developer documentation is available at docs.payroc.com. Payroc also offers Integration Essentials for prebuilt payment tools and a unified API with extensive list of precertified POS devices from top manufacturers. Developer documentation is at docs.payroc.com.
What industry is i3 Merchant Solutions in?
i3 Merchant Solutions's product category is Payment Processing Software. Its primary akta.pro industry code is FSAMABAA, Integrated Payment Processors (PSP/Acquirer), with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 522320.