Esquire Financial Holdings in Jericho, N.Y., has acquired a large stake in United Payment Systems.
The $1.5 billion-asset Esquire said in a press release that it invested $6 million in the payments fintech, which operates as Payzli, for a 24.99% ownership interest.
Payzli is a registered independent sales organization of the bank.
The investment “will be leveraged to support Esquire’s future select business verticals for its national payment and small business platforms,” Andrew Sagliocca, Esquire’s vice chairman, president and CEO, said in the release.
“We are investing in a business partner and a technology platform that will assist us in servicing certain direct small business verticals across all their banking needs,” Sagliocca added.