Foreign exchange company OFX has completed its acquisition of payments start-up Paytron Holdings, giving it an entry into the payments card market.

When OFX announced the deal earlier this year, it said it earned most of its revenue from corporate customers but missed out on many of its corporate clients’ small cross-border payments. For those, clients use corporate cards.

It hopes the integration of Paytron’s platform into its business will allow it to capture the small payments part of its corporate clients’ cross-border transactions.

The Paytron business also includes invoice management capabilities and accounts receivable workflow.

OFX announced the completion of the acquisition last week, saying it will begin the integration immediately.

In the year to March, OFX’s revenue from the corporate segment rose 89.4 per cent and made up more than 50 per cent of total revenue. 

Overall, the company’s net income rose 43.4 per cent to A$201.2 million on a 17.9 per cent increase in transaction value to $39.1 billion. Net profit rose 25.6 per cent to $31.4 million.