Formerly Known as Zomaron
Headquartered in Ontario, Canada, Paystone is a merchant account provider that offers in-person, wireless, fundraising and online payment solutions aimed at retailers, restaurants, and non-profit organizations. The company was founded in 2009 as Zomaron but became rebranded as Paystone in November of 2019. According to the company’s website, Paystone serves over 25,000 locations in the United States and Canada, processing $6 billion from over 50 million transactions annually. The company is partnered with Elavon of Canada and First Data of Canada for its processing network. The company also advertises Talech as a POS solution.
Acquisition of DataCandy and Consequent Rebrand
On November 4, 2019, the company (then known as Zomaron) announced its acquisition of DataCandy. The newly acquired company was a software company based in Montreal that focused on gift card and loyalty program platforms. Zomaron’s acquisition of DataCandy prompted the company to rebrand itself under its current name, Paystone. Following the rebrand, DataCandy’s previous headquarters became Paystone’s Montreal-based office. The acquisition of DataCandy was the company’s third in 2019, following that of POS West and NXGEN Canada earlier in the year.
Paystone Location and Ownership
Paystone is a registered MSP/ISO of the Canadian branch of U.S. Bank N.A. and Elavon. Paystone is also a Global Payments Direct, Inc. Partner and Registered MSP/ISO of Wells Fargo Bank, N.A., Walnut Creek, CA. Paystone is also a First Data Canada Ltd. Partner and Registered MSP/ISO of Wells Fargo Bank, N.A., Canadian Branch, Toronto, ON, Canada. The company’s headquarters are located at 3200 Wonderland Rd S, London, Ontario N6L 1R4, Canada. Tarique Al-Ansari is the president, CEO, and co-founder of Paystone.
Paystone Review Table of Contents
- Costs & Contract: Paystone appears to offer a multi-year contract through Elavon or First Data with an associated equipment lease.
- Complaints & Service: Paystone has received fewer than 10 public complaints.
- BBB Rating: Paystone has an “A+” rating and has received 2 complaints in the past 3 years. The company has been accredited by the Better Business Bureau since 2010.
- Sales & Marketing: Paystone does not appear to hire independent sales agents and has received a few complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Paystone.