Paramount Commerce acquires Clik2pay, a real-time e-billing and collection payment platform, to accelerate its diversification strategy

TORONTO, December 12, 2023 – Paramount Commerce, Canada's leading bank account-based payment partner, has officially announced its acquisition of Foghorn Payments Inc. (“Clik2pay”), a leading account-to-account payment technology provider. This strategic acquisition marks a significant step forward for Paramount Commerce in broadening its spectrum of alternative payment solutions and strengthening its presence in growing markets.

Clik2pay stands out for its cutting-edge real-time e-billing and collection payment platform. Their payment offerings cater to e-billing, collections, eCommerce, and small businesses. Consumers leveraging Clik2pay enjoy versatile payment options via link, QR code, SMS, or email, complemented by user-friendly features like payment scheduling and adaptable payment amounts. Moreover, merchants benefit from data-rich payments supported by custom, branded templates. Clik2pay is integrated with major platforms such as Shopify, Xero, Magento, and Salesforce’s Commerce Cloud and has corporate clients across telecommunications, lending, and collections sectors.

“Clik2pay will improve Paramount's range of bank account-based payment solutions and fuel our objective of entering new high-growth markets," explained Dave Roe, COO of Paramount Commerce. "This acquisition equips Paramount Commerce with a range of new products and features, along with platform integrations, supplier connections, and team proficiency to expedite our aggressive diversification strategy.”

Paramount Commerce envisions a ripple effect from this union, where top-tier merchants and millions of consumers already engaged with Paramount Commerce will experience enriched features and capabilities from integrating Clik2pay's offerings.

About Paramount Commerce

Paramount Commerce is on a mission to simplify payments and is Canada’s leading bank account-based payment partner. Our patented technology is used by millions of consumers and has processed over $100 billion in volume. Offering one-click payments, a robust risk management system, a best-in-class experience, seamless integration, and over 20 years of industry experience, Paramount Commerce creates raving fans of both merchants and consumers. To learn more, visit paramountcommerce.com

For more information: media@paramountcommerce.com