Jack Henry acquires Victor Technologies to expand payments platform

Jack Henry & Associates Inc. (NASDAQ: JKHY) acquired Victor Technologies Inc., a cloud-native provider of embedded payments solutions, from MVB Financial Corp. (NASDAQ: MVBF), the company announced Tuesday.

Victor Technologies, founded in 2021 by MVB Bank, processes billions of dollars in payments monthly and offers real-time payment processing and virtual ledgering functionality. The acquisition expands Jack Henry's capabilities in the payments-as-a-service market, where financial institutions embed payment services into third-party brands.

"This acquisition advances our technology modernization strategy to help banks and credit unions compete and win through innovative, cloud-native solutions," said Jack Henry President and CEO Greg Adelson.

Victor is already integrated with Jack Henry's SilverLake core bank system and JHA PayCenter. Jack Henry plans to expand Victor's capabilities to serve its Symitar credit union and Treasury Management platform clients and integrate with the Jack Henry Platform.

The payments-as-a-service market is projected to grow from $19.1 billion in 2025 to $43.9 billion in 2029 at a compound annual growth rate of 23.1%, according to Research and Markets.

Victor offers payment processing across multiple types including disbursements, receivables, cross-border, escrow, title, and e-commerce transactions, with support for virtual accounts and digital wallets. The platform's direct integration with Jack Henry's banking core enables near real-time reconciliation and provides compliance reporting capabilities.

"We've had a strong relationship with Jack Henry since our inception and are excited to join forces to expand the reach of our integrated, embedded payments platform," said Victor President Maf Sonko.

Financial terms of the transaction were not disclosed. Jack Henry expects the acquisition to be minimally dilutive to GAAP earnings per share for the remainder of fiscal 2026 and fiscal 2027, becoming accretive in fiscal 2028.

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