Jack Henry & Associates Inc. announced today that it has acquired Victor Technologies, a cloud-native, API-first provider of embedded payments solutions, from MVB Financial.

The acquisition is designed to strengthen Jack Henry’s Payments-as-a-Service (PaaS) offerings for financial institutions seeking to embed payment capabilities into third-party platforms, according to Jack Henry’s Oct. 1 release.

Victor Technologies, which processes billions of dollars in payments each month, is already integrated with Jack Henry’s SilverLake core banking system and its JHA PayCenter solution.

Jack Henry plans to extend Victor’s capabilities to its Symitar credit union and treasury management platforms, and to integrate its technology more deeply with the cloud-native Jack Henry Platform.

Jack Henry President and Chief Executive Greg Adelson said in the release that the acquisition furthers the firm’s modernization efforts by giving clients scalable embedded payments tools and new opportunities to diversify revenue.

He noted that Jack Henry can now offer a high-volume, direct-to-core payments platform that supports emerging services including stablecoin, real-time payments and cross-platform commerce.

Victor’s product suite covers real-time payment processing, virtual ledgering, disbursements, receivables management, cross-border payments, escrow, title services, e-commerce, virtual accounts and digital wallets.

Deep integration with Jack Henry’s core system allows near-real-time reconciliation and greater risk control, particularly around overdrafts, the release stated.

Analysts point to the growing PaaS market as a driver behind the move. The market is projected to expand to $43.9 billion by 2029 from $19.1 billion in 2025, with a compound annual growth rate of 23.1%.

Financial terms of the deal have not been disclosed.

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