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North American Bancard

“Can a legacy MSP/ISO build a full-stack, vertically integrated payment technology platform — with in-house processing, developer APIs, and an ISV marketplace — to compete with modern embedded payments infrastructure providers?”

Founded1992
HQTroy, Michigan, USA
FoundersMarc Gardner
Latest roundPrivate Debt
IndustryFintech / Payments
The story

Founded in 1992 as a traditional MSP/ISO reseller of credit card processing, North American Bancard gradually built vertical integration by acquiring its own processing infrastructure (EPX in 2015) and a B2B gateway (PayTrace in 2022). The 2023 rebrand to 'North' signals the company's shift from a reseller identity to a full-stack payment technology and merchant services platform. North now positions itself as an end-to-end processor with developer APIs, an ISV marketplace (North Exchange), and embedded finance capabilities for software platforms.

Last 12 months
2022-03
2023-01
2025-01
2026-02
Product timeline
1992
Founded as North American Bancard, a registered MSP/ISO providing credit card processing to merchants.· pivot
2007
Established processing partnership with First Data (now Fiserv) to expand processing capabilities.· pivot
2015
Acquired EPX (Electronic Payment Exchange), gaining an in-house payment processing platform.· acquisition
2022
Acquired PayTrace, a B2B payment gateway specialist with 40,000+ merchants and $43B settled annually.· acquisition
2023
Rebranded from North American Bancard to 'North', reflecting expanded fintech identity.· pivot
2025
Named a Top 25 Payments Company by The Financial Technology Report; surpassed $100B in annual electronic transaction volume.· pivot
Regulated entities
1
regulatory licence held by North American Bancard
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in North American Bancard’s embedded-finance stack
Payments / PSP
EPX (Electronic Payment Exchange) (self-operated)NAB Velocity Gateway (self-operated)PayTrace (self-operated, acquired 2022)Global PaymentsFirst Data (Fiserv)
Money movement
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: significant
4 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.