Payworks to Fuel New Point of Sale Tool for Bambora

Point-of-sale technology provider Payworks announced a partnership with multi-channel payment solutions company and Ingenico subsidiary Bambora.

Payworks and Bambora are partnering to launch Bambora Connect, an international solution for POS software providers and merchants. Connect leverages the expertise of both Bambora, which offers merchant sales expertise, and Payworks, which provides advanced payment technologies and integration capabilities. Bambora Connect will work with multiple mobile and stationary card terminals, enabling merchants to accept Visa, Mastercard, and American Express payments in six currencies across Europe.

Christian Deger, CEO and co-founder at Payworks said, “From our own experience working with POS software vendors, we saw and understood the opening in the market for an integrated POS solution which offered powerful infrastructure with advanced tools and processes for onboarding and management. We’re extremely proud of Bambora Connect and look forward to our future collaborations with Bambora and Ingenico.”

Through their collaboration, Bambora, which processes more than $62 billion (€55 billion) per year and serves merchants in 70 markets, and Payworks will facilitate software integration for Bambora’s customers without the need for technical expertise. Connect will be available in the fall of this year; Bambora’s existing clients can begin onboarding their merchants now.

“Bambora is successfully working to make payment acceptance for merchants as simple as possible,” said Johan Tjärnberg, CEO at Bambora and EVP of the retail business unit at Ingenico. “Partnering with Payworks on Bambora Connect…. has ensured a fantastic product for in-store payment acceptance. The POS software market is growing at a rapid pace on a global scale and we see plenty of opportunity to collaborate beyond the SME space as well.”

Payworks provides three payment technology offerings: Pulse, a set of SDKs and APIs that allow developers to offer their merchants EMV certified, PCI compliant, and P2PE ready POS solutions; Accept, a white-label mPOS solution that enables merchants to quickly and easily accept card payments; and Engage, which enables developers using Pulse to build customer engagement solutions.

At FinovateEurope 2014, Payworks showed how its platform makes integration easy for developers, allowing them to focus on building value-added merchant solutions. Founded in 2012, the company’s partners include First Data, TSYS, Stripe, and American Express. Earlier this spring, Payworks partnered with Hubtel to enable merchants in Ghana to accept payments. Payworks has raised $19 million and has offices in Munich, New York, London, and Barcelona.

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Payworks Teams Up with Ghana-based Payment Platform Hubtel

Payworks is working with Ghana’s Hubtel to enable merchants in the African nation to accept payments via their Hubtel POS app and EMV credit card reader. The two companies have been collaborating since the beginning of the year, integrating Payworks Pulse payment gateway technology to make Hubtel the first fully integrated solution available in the country.

“Hubtel’s aim is to enhance our merchants’ business by offering a platform where payments, customer engagement and loyalty can be handled through the same application,” Hubtel CEO Alex Adjei Bram said. “By partnering with Payworks, we’ve been able to offer a payment solution which has consolidated the retail experience, enabling businesses to interact with customers at their preferred touchpoints.”

Payworks Pulse enables developers to quickly and easily integrate Pulse SDKs and APIs to add card reading functionality to their POS applications. EMV certified, PCI compliant, and P2PE ready, the technology supports remote card reader updating, enabling a faster time to market. Pulse is built to scale; POS solutions can be deployed worldwide without changing the integration thanks to Pulse’s pre-certification with leading processors and acquirers in the U.S., Europe, and Africa. With Hubtel, Payworks certified with local acquirer Zenith Bank so that merchants can accept the local debit scheme gh-link, as well as Visa and Mastercard schemes.

“Supporting the Hubtel team in providing an integrated solution which meets the needs of their local merchants has been an exciting project and we look forward to our continued work in the future,” Payworks CEO and co-founder Christian Deger said. He underscored the value of providing “acquirer-agnostic technology” as a way to best tailor solutions to the specific needs of clients and “bring advanced payment technology to more Point of Sale solutions around the world.”

Payworks demonstrated its mobile POS SaaS platform at FinovateEurope 2014. Founded in 2012 and headquartered in Munich, Germany, the company has raised $19 million in funding, most recently picking up a $14.5 million investment in a round led by CommerzVentures and Visa. The company extended its partnership with Verifone back in December, and announced support for Alipay last summer.

Interested in fintech in Africa? Check out our Finovate Global post every Sunday for news on developments in financial technology around the world. And be sure to join us in South Africa this fall as Finovate makes its debut in Capetown in November.

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Payworks Completes $14.5 Million Series B Round

Point of sale (POS) technology company Payworks has reeled in its second round of funding. The Germany-based company closed a $14.5 million round from CommerzVentures and Visa, with contributions from existing investors Speedinvest and Finparx. Today’s financing brings Payworks’ total funding to $19 million.

Explaining the firm’s reasoning behind the funding, Stefan Tirtey, Managing Partner of CommerzVentures said that it “invests in founders with a passion for innovation and proven ability to execute.” He added, “We back businesses that can have a significant impact on the financial services industry. We believe that Payworks has both, a great team, and an offering that can have real impact in the fast-changing world of card payments.”

Payworks will use today’s financing to fulfill demand for its solutions and fuel global growth, scale operations, and focus on increasing R&D and product teams across its offices in Munich, New York, London, and Barcelona. In the press release, Christian Deger, Payworks founder and CEO said, “We are on a great mission to build a new operating system for the Point of Sale and are very excited to have CommerzVentures and Visa join us on that journey. With the additional funding we are fully equipped to further develop our technology and product and support the demand coming from leading payment players looking to modernize their solutions.”

Founded in 2012, Payworks focuses on POS technology. The company’s payment gateway technology, Pulse, is a set of SDKs and APIs that remotely update card readers and set up in a couple of minutes to make developers and their merchants EMV certified, PCI compliant and P2PE ready. The company’s partners include First Data, TSYS, Stripe, and American Express. Additional products include Accept, a white-label mPOS solution for merchants, and Engage, a customer data and CRM platform.

At FinovateEurope 2015, the company’s CEO Christian Deger demonstrated how Payworks builds payment solutions and checkout options. Late last year, the company extended its partnership with Verifone, integrating the Verifone e355 mPOS and the VX 820 onto the Payworks platform.

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