The combined business of Vistra and iiPay is expected to process about ten million payment records each year in over 170 markets around the world.
Vistra, a Hong Kong-based professional services provider, has reached a strategic acquisition agreement with iiPay (Integrated International Payroll Limited), a global provider of cloud payroll solutions.
The aggregated capabilities of the two firms will enable multi-country payroll in over 170 countries and regions. To enhance its existing offering, Vistra plans to combine iiPay’s expertise in managing payroll in the US, Canada, Europe, and Latin America with its own well-established payroll and advisory services in the Asia Pacific and EMEA regions.
Payroll management is not an easy task. It is estimated that 33% of employers regularly make payroll mistakes that collectively cost billions of dollars. Managing payroll across multiple countries is even more complex, as it involves handling sensitive employee and financial information across borders, complying with various laws, regulations, employment standards, and reporting requirements, as well as dealing with real-time currency conversion and management of exchange rate fluctuations.
A cloud-based solution provided by iiPay uses advanced technology to automate and simplify the complexities of global payroll, saving time, reducing manual work, and improving the experience for employees.
When the iiPay platform is combined with Vistra’s local payroll expertise and a strong network of partners familiar with local laws, the two companies have a chance to create a seamless, end-to-end global payroll solution.
Over the 20+ years of operation, iiPay has built a solid client base of businesses that rely on its payroll services to support international growth, especially in challenging regions. Through the acquisition, the firm’s clients will receive an expanded service suite, as they also gain access to Vistra’s global services, including multi-country entity management, tax support, statutory accounting, and HR advisory.
Simon Webster, CEO of Vistra Group, stated that a seamless payroll experience was central to Vistra’s vision of making global operations feel borderless and frictionless. He noted that the acquisition accelerates the company’s strategy aimed at redefining global business operations, simplifying corporate compliance, and driving progress without obstacles.
T. Curtis Holmes, CEO of iiPay, described the acquisition as a landmark moment for both iiPay and Vistra, marking the start of an exciting new chapter in global payroll. He highlighted that their combined strengths would drive product innovation, expand capabilities, and create new opportunities for the companies’ teams to deliver an exceptional experience for their global clients, which he affirmed remained their top priority.
Companies managing payroll across jurisdictions increasingly seek unified solutions, as they struggle with consistent international compliance (63%), managing multiple payroll vendors (30%), designing the best operating model for global payroll (27%), data visibility and integration for tracking global payroll performance (41%), and manual processes which often result in mistakes worth between $290 and $5,000 monthly.
