Sage Software recently announced that its U.K.-based parent company, The Sage Group plc (“Sage”), has agreed to acquire Verus Financial Management, Inc. Verus is a merchant services business specializing in credit card and check processing for small and medium-sized businesses (“SMBs”) based in Nashville, Tennessee.

Verus is a leading provider of merchant services in North America. Merchant services support retail, business to business and e-commerce businesses in processing customer transactions through credit cards, debit cards and checks.

Payment processing services are becoming an increasingly important business process requirement for small and medium-sized businesses, not only in managing payments to employees through payroll services, but also in managing transactions with customers through merchant services like those provided by Verus. The market for merchant services is growing strongly, underpinned by growth in the U.S. retail sector, wider adoption of e-commerce by customers and increased use of credit and debit cards. Verus will form the core of Sage’s North American Merchant Services Division, complementing Sage’s existing North American Payroll Services.