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Clearent

“Can Clearent/Xplor Pay become the default embedded payments and capital infrastructure for vertical SaaS platforms by offering PayFac-grade economics without PayFac-grade compliance overhead?”

Founded2005
HQClayton, MO (historically); Atlanta, GA (post-Xplor merger)
Latest roundBuyout/LBO
IndustryInfrastructure / Payments
The story

Founded in 2005 as a transparent payment processor for financial institutions and SMBs, Clearent expanded its reach through a merger with Transaction Services Group in 2021 to form Xplor Technologies. The company evolved from a standalone processor into an embedded payments platform targeting vertical SaaS ISVs, particularly in dental, medical aesthetics, and field services. In 2025, it launched Xplor Capital (via Parafin) to extend into embedded lending, and rebranded the U.S. payments business to Xplor Pay — signaling a strategic shift toward PayFac-as-a-Service and full embedded finance infrastructure for software platforms.

Last 12 months
2025-05
2025-07
Product timeline
2005
Clearent founded as a payment processing company for financial institutions and small businesses, focusing on transparent interchange-plus pricing.· payments
2021
Clearent merged with Transaction Services Group (TSG) to form Xplor Technologies, a global payments and software company.· acquisition
2025
Clearent by Xplor launched Xplor Capital, an embedded merchant financing solution for SaaS providers powered by a partnership with Parafin.· lending
2025
Clearent rebranded its U.S. payments arm to Xplor Pay on July 8, 2025, positioning as a PayFac-as-a-Service provider for mid-market ISVs.· pivot
The stack
3 layers disclosed in Clearent’s embedded-finance stack
Payments / PSP
Clearent/Xplor Pay (self-operated)Xplor Pay PayFac-as-a-Service (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: none
3 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.