Nelnet Acquires Online Payment Processor PaymentSpring From Firespring

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Nelnet Acquires Online Payment Processor PaymentSpring From Firespring

Online payment processing company PaymentSpring (paymentspring.com) is re-launching with improved features following its acquisition by Nelnet. PaymentSpring was founded in 2014 under the umbrella of Firespring, a Nebraska-based marketing communications company. Terms of the sale were not released.

PaymentSpring President Mike Phelan said Nelnet and Firespring share similar values that made the acquisition a perfect fit.

“Both companies have a passion for serving nonprofit organizations and for supporting the startup ecosystem,” said Phelan. “PaymentSpring was nurtured in a great environment at Firespring, and we’re looking forward to its future as a Nelnet company.”

Firespring CEO Jay Wilkinson says the transition is a natural step. “PaymentSpring began as an idea to improve payment processing for our nonprofit clients,” said Wilkinson. “The company’s explosive growth made it evident that it was ready to take on established competitors throughout the entire payment processing sector.”

Phelan says PaymentSpring is able to securely process payments made through personal computers, mobile devices and point-of-sale terminals. It can be used by most types of businesses or nonprofit organizations and is ideal for software developers. Phelan says the company is also developing technology that will give clients more control of the process and improve security. But he says a key part of PaymentSpring’s offering is providing individual consultation.

PaymentSpring currently employs approximately 60 workers at its locations in Omaha and Lincoln, Nebraska. Additional information and resources are available at paymentspring.com.