Canada's Kort Payments has agreed to acquire fellow Toronto-headquartered paytech AptPay for an undisclosed sum.
Founded in 2019 by CEO Shams Syed and chairman Suganthan Vishnu Krisnarajah, AptPay facilitates account-to-account (A2A) payments through its money movement platform which provides businesses with a single integration for sending money across multiple payment rails across the US and Canada.
These rails include Mastercard Send, Visa Original Credit Transaction (OCT), FedNow, Electronic Funds Transfer (EFT), Real Time Payments (RTP), and automated clearing house (ACH), among others.
Upon completion of the deal, which is expected in Q4 2026 subject to customary closing conditions, AptPay will become a Kort subsidiary, operating under its own brand and led by Shams Syed.
In a statement announcing the purchase, Kort says AptPay expands its capabilities "beyond card acceptance to include account-to-account payments and disbursements, enabling customers to collect and send funds through a single provider and consolidated platform".
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Founded in 2024, Kort is a specialised omnichannel payments platform for independent sales organisations (ISOs), independent software vendors (ISVs), and merchants.
Kort aims to utilise AptPay's established connections in the US to accelerate its expansion in the country. Its US presence was first established in 2025 when it bought Paysafe Direct's direct marketing payment processing business.
In addition to Canada and the US, Kort is also present across Europe and Australia, according to the company's website, as well as Latin America (LatAm) - namely Mexico, Brazil, Argentina, and Chile.
The company recently divested its Merrco business to PayFacto, stating at the time that the proceeds of the sale would accelerate its US and LatAm expansion plans.
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Reporter, FinTech Futures
Francis Bignell is a reporter at FinTech Futures with a keen interest in all things fintech, especially in the Latin America region. Writing in the industry for four years, he has moderated webinars and podcasts as well as interviewed executives from a wide range of sectors.