Alumni News

MX Inks Partnership with Payveris

MX Inks Partnership with Payveris
By David Penn Posted on
Categories: Alumni News, Daily news, MX, Partnership Outlook

Financial data platform and connectivity leader MX is teaming up with integrated money movement platform Payveris to enable financial services and fintechs to offer low-cost, low-risk money movement via enhanced account connectivity.

“We respect Payveris as a leader in the money movement space and we’re excited about this partnership because it will help our joint customers have full control over almost every aspect of the experience for money movement,” MX co-founder and Chief Technology Officer Brandon Dewitt said. “Payveris has a long track record of strength, security, and reliability in lowering the friction to the user experience, significantly reducing operating costs, and future-proofing their IT investment.”

The integration, announced this week, will enable organizations to offer intelligent digital payment and money movement services, as well as use Payveris’ MoveMoney platform and suite of open APIs, SDK widgets, and SSO products – all embedded into an integrated money movement offering.

Payveris VP of Product Management Chirag Patel said that the partnership was a response to growing demand from financial institutions for automation in billpay and money movement. Patel noted that this challenge was especially acute for banks and credit unions that are facing new competition from technology companies and retailers that are offering banking services. “Banks and credit unions are looking to have a major role in delivering the best experience possible for their users,” Patel said. “With MX’s industry-leading financial data platform and modern connectivity, we’re making the payment experience seamless – the way consumers move and manage money – and simpler than ever.”

Founded in 2011 and headquartered in Cromwell, Connecticut, Payveris was acquired by cloud-based billpay technology company Paymentus last month for $152.2 million. In July, Payveris announced that it had optimized the P2P functionality on its MoveMoney platform, enabling users to send money to anyone with a U.S. bank or credit union account using only the recipient’s mobile phone number of email address. In May, the company reported that its MoveMoney platform supported a total of more than 225 credit unions, including 27 CUs added in the past year alone.

Named to the Forbes Cloud 100 last month, Lehi, Utah-based MX includes partnerships with finance platform and “virtual goal mall” Goalry, credit union giant BECU, and fellow Finovate alum Dwolla among its more recent collaborations. The company connects more than 16,000 financial institutions and fintechs with its data connectivity network, and powers 85% of digital banking providers – in addition to thousands of banks, credit unions, and fintechs. Be sure to check out the latest from MX as the multiple-time Best of Show winner returns to the Finovate stage next week for FinovateFall 2021.

Photo by Darrel Und from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

PayPal to Acquire BNPL Player Paidy for $2.7 Billion

PayPal to Acquire BNPL Player Paidy for $2.7 Billion
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, PayPal

PayPal announced plans today to acquire Japan-based Paidy, a payments company with a buy now, pay later (BNPL) offering that facilitates transactions for both merchants and consumers. The deal is expected to close for $27 billion (¥300 billion) in the fourth quarter of this year.

PayPal’s purchase will work alongside its existing ecommerce business in Japan, which is the third largest ecommerce market in the world. Paidy will also expand PayPal’s capabilities, relevancy, and distribution in Japan’s domestic payments market.

“Paidy pioneered buy now, pay later solutions tailored to the Japanese market and quickly grew to become the leading service, developing a sizable two-sided platform of consumers and merchants,” said VP and Head of Japan at PayPal, Peter Kenevan. “Combining Paidy’s brand, capabilities, and talented team with PayPal’s expertise, resources, and global scale will create a strong foundation to accelerate our momentum in this strategically important market.”

Paidy was founded in 2008 and enables its six million registered users to make purchases online without the use of a debit or credit card. Instead, Paidy operates on a BNPL model by billing customers for all purchases at the end of each month. Payments can be made via bank transfer or in-person using cash at a convenience store.

This model works not only for ecommerce purchases, but also for brick-and-mortar transactions. The company’s Paidy Link tool was launched earlier this year and allows customers to link digital wallets, including PayPal, to make purchases using the digital wallet but make payment via Paidy. For PayPal, Paidy’s model that circumvents credit and debit card rails is a good thing. It enables PayPal to own the payment flow (and the revenue that comes with it).

“Paidy is just at the beginning of our journey and joining PayPal will accelerate our plans to expand beyond ecommerce and build unique services as the new shopping standard,” said Paidy President and CEO Riku Sugie. “PayPal was a founding partner for Paidy Link and we look forward to working together to create even more value.”

Sugie, along with Paidy Founder and Executive Chairman Russell Cummer, will continue to lead Paidy, which will continue to operate and maintain the brand.

Paidy marks PayPal’s 23rd acquisition, following Honey in 2019 and Curv and Happy Returns in 2021. The purchase of Paidy, with its BNPL capabilities, hints at PayPal’s evolution into becoming more of a holistic shopping platform.

Photo by Brett Jordan from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

Capitalise.com Secures New Funding to Power Risk Management Service

Capitalise.com Secures New Funding to Power Risk Management Service
By David Penn Posted on
Categories: Alumni News, Capitalise, Daily news, Funding

London-based digital “super platform” Capitalise.com has raised $13.8 million (£10 million) to support a new, integrated risk management service to provide credit insights beyond traditional credit reports. Investors in the round include Experian, QED Investors, Gauss Ventures, Hambro Perks, and Post Finance.

Capitalise.com helps SMEs secure the financing they need in order to grow their business. The company leverages its accountant-as-adviser approach to ensure that small businesses access smarter, more appropriate funding sources and avoid the kind of short-term, ill-fitting financing solutions that often result in high rates and high fees.

Paul Surtees, company CEO and co-founder, pointed to the COVID pandemic as the impetus – at least in part – for the new offering. “Everybody has had to think differently during the pandemic, including us, so we created a virtuous circle in which SMEs and their advisors are shielded from risk and helped to grow.”

With its new risk management service, Capital Reports, Capitalise.com empowers accountants to defend their small business clients from potential and unforeseen risks to their client’s or their supplier’s credit positions. These risks may come in the form of potential defaults, or a company’s need or propensity to borrow, and gives them real-time access to a curated panel of both mainstream and alternative lenders. The service, available as both a paid and a free subscription and powered by credit data from Experian, will be available to approximately 500,000 small businesses through their accountant partners. Capitalise.com stated that an additional 500,000 SMEs will be able to access Capital Reports via API and Open Banking partnerships.

“Managing credit risk is central to lender activity but SME owners typically overlook it,” Capitalise.com co-founder and Chief Product Officer Ollie Maitlaind explained. “This restricts their growth and jeopardizes their survival.” He emphasized the fragility of supply chains as exposed by the global health crisis and noted that, as businesses emerge from the worst of the pandemic, “their ability to recover and protect capital … will be crucial.” Maitlaind added that upon successful launch in the U.K., Capitalise.com plans to bring the service to the South African market later this year “with more countries to follow.”

Founded in 2014, Capitalise.com made its Finovate debut two years later at our fintech conference in London. The company’s total equity funding now stands at more than $18 million.

Photo by Tara Winstead from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

Sensibill and FreeAgent Team Up to Bring Automation to Small Business Expense Management

Sensibill and FreeAgent Team Up to Bring Automation to Small Business Expense Management
By David Penn Posted on
Categories: Alumni News, Daily news, FreeAgent, Partnership Outlook, Sensibill

A collaboration announced late last week between a pair of Finovate alums will give small businesses new options when it comes to digital receipt and expense management.

Toronto, Ontario, Canada’s Sensibill, which won Best of Show for its FinovateFall demo of its digital receipt insights solution, has partnered with FreeAgent. The U.K.-based cloud accounting software company will combine Sensibill’s technology within its own new Auto Extract feature to help SMEs transition from manual expense management and receipt tracking to a modern, automated process.

“By joining forces with FreeAgent, we’re eliminating the time and money businesses have traditionally spent manually entering data into clunky and cumbersome spreadsheets and systems,” Sensibill Chief Technology Officer Danny Piangerelli said. “Instead, we’re delivering item-level details that enable faster, better expense management.”

Sensibill’s customer data platform blends ethically sourced, enriched SKU-level data with real-time, actionable insights to help FIs achieve personalization at scale. Integrated into FreeAgent’s Auto Extract technology, the technology enables businesses to capture, organize, and categorize their receipts digitally and accurately link them with corresponding bank transactions.

“Automation is at the center of our business,” FreeAgent co-founder and CEO Roan Lavery said, “which is why partnering with Sensibill was a natural choice.” Lavery added the collaboration will help increase satisfaction and engagement among customers while relieving SMEs and their accounting team from the “administrative hassles,” costs, and inaccuracies that plague most manual, expense management processes.

Founded in 2007 and making its Finovate debut in Europe in 2013, FreeAgent was acquired by NatWest five years later for $73 million (£53 million). The company currently has more than 110,000 small businesses, freelancers, and contractors in the U.K. using its technology for a variety of key business tasks – from invoice and expense management to project management and sales tax calculation.

With more than 60 million users across 150+ financial institutions in Canada, the U.S. and the U.K., Sensibill was founded in 2013 and has raised more than $50 million in equity capital. Founded by current CEO Corey Gross, the company has forged partnerships this year with fellow fintech CAARY, as well as with Maryland-based SkyPoint Federal Credit Union ($182 million in assets) and AbbyBank, a full-service community bank based in Wisconsin with assets of $616 million.

Photo by Karolina Grabowska from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

InComm Teams Up with Doxo to Help Users Pay Bills in Cash

InComm Teams Up with Doxo to Help Users Pay Bills in Cash
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Doxo, InComm

Payments technology company InComm and online billpay platform doxo are partnering this week to enable doxo users to pay bills using cash.

doxo is leveraging InComm’s VanillaDirect retailer network that contains more than 60,000 brick-and-mortar locations including chains such as Dollar General, Family Dollar, and participating 7-Eleven stores.

“Our cash payment network is perfectly aligned with doxo’s vision of empowering consumers to improve their financial lives,” said InComm Payments SVP of Business Development Tim Richardson, adding, “and in this instance providing their users with a simple and convenient experience for making cash payments to household billers in an extensive network of retail locations across the United States.”

To pay their household bills using cash, doxo users select the pay with cash button in the app. Cash-paying users will receive a barcode on their mobile app that they scan at the participating retailer’s point of sale, which will charge them the correct amount for their selected bill. Once the customer pays their bill, the biller receives the payment instantly, just as they would with a credit card, debit card, or checking account payment.

The new billpay method not only helps underbanked consumers, it also benefits the billers. Just over 13% of utility bills in the U.S. are paid using cash, which incur more processing costs than digital payments. The added capability will also give doxo a boost by offering utility companies a greater incentive to join doxo’s network of more than 100,000 billers.

Founded in 2008, doxo offers a mobile app that enables its five million users to manage and pay all of their bills from a single place. The company’s doxoPLUS offering provides credit protection and identity theft protection. doxo also offers late fee protection, a feature made possible thanks to a 2019 partnership with Plaid.

Headquartered in Seattle, Washington, doxo has raised $18.8 million in funding from investors including Sigma Partners, Bezos Expeditions, and Mohr Davidow Ventures. Steve Shivers is CEO.

Share this:

Send Post Twitter LinkedIn Facebook

Moven, Q2 Partner with Community Banks to Help Deliver Financial Wellness Solutions

Moven, Q2 Partner with Community Banks to Help Deliver Financial Wellness Solutions
By David Penn Posted on
Categories: Alumni News, Daily news, Moven, Movenbank, Q2

Moven’s transition to a financial wellness platform received a big boost this week as the company announced that a pair of community banks – b1 BANK and Citizens Bank of Edmond will leverage its technology to power their own personalized digital banking offerings.

Moven’s platform is powered by core processing technology from fellow Finovate alum Q2. CorePro, as the technology is named, will give these community banks the ability to build a solution with a front-end based on financial wellness and a backend able to interact with a variety of legacy core systems.

Keith Mansfield, Chief Operating Officer with the Louisiana-based b1 BANK, underscored how the partnership with Moven will enable the institution to offer its customers new tools to enhance their financial wellness. Mansfield added that working with Moven will also help the $3.9 billion AUM bank gain the kind of customer insights that will enable it to “compete with both larger banks and fintech competitors.”

Citizens Bank of Edmond ($350 million in assets) CEO and President Jill Castilla was even more direct, highlighting both the importance of “deliver(ing) exceptional products and exceptional customer service in an increasingly digital manner” as well as the key role that community banks play in the financial lives of a sizable number of individuals and families.

“No one is more skilled at developing relationships and meeting customer needs than community banks,” Castilla explained. She praised both Moven and Q2 as companies that not only understood this reality but also were “committed to bringing a first-class digital experience to underbanked and underserved communities in need.”

The initiative announced this week is not the first time Moven and Q2 have collaborated. Most recently, in the fall of 2020, the two companies teamed up to offer a turn-key digital bank-in-a-box that can be deployed by financial institutions in as few as 30 days. Combining financial data aggregation and savings tools from Moven with Q2’s CorePro cloud processing technology, the new offering provides real-time alerts and notifications, the ability to issue savings and demand deposit accounts, as well as instant external account verification, wishlist savings, and an emergency account.

“Community financial institutions are frustrated with their legacy core provider(s) and want flexibility and affordability in delivering solutions that empower the consumer,” said Bryan Clagett, industry expert and advisor who helped bring Moven and Q2 together for the project. “Digital banking, as we know it, is evolving quickly and bringing together fintech organizations that have complementary competencies is key to the future of the financial services industry.”

Photo by Summer Li from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

The QR Code Payment Revolution Comes to the Magic Kingdom

The QR Code Payment Revolution Comes to the Magic Kingdom
By David Penn Posted on
Categories: Alumni News, Blackhawk Network, Daily news

Courtesy of Blackhawk Network, championship-winning professional athletes aren’t the only ones headed to Disneyland. The branded payments solution provider announced late last week that it is leveraging its proprietary ScanIt solution to power retail ticket purchases using QR codes. Moreover, among the first customers of this new offering is none other than Disneyland, which will offer QR code ticket sales in major retailers throughout the state of California.

“Shoppers’ comfort with QR codes exploded in the last year,” Helena Mao, VP of global product strategy at Blackhawk explained. “Now, as consumers return to in-person entertainment, we are pleased to continue the innovation around QR codes with the introduction of entertainment and amusement park ticketing.”

Amusement parks are only one use case of Blackhawk’s technology. The company’s solutions can also be applied to other experiences that have historically relied on paper tickets, such as music concerts, museums, zoos, and other forms of live entertainment. Contactless, QR code-based payments also support the public’s growing preference for purchasing goods and services in the analog world the same way that they do in the digital world. Research conducted by Blackhawk, for example, suggests that 73% of consumers surveyed would prefer “online” payment methods – even when shopping “in-store.”

“Our technology affords retailers the luxury of a content selection that is no longer hindered by physical space,” Mao added. “And it gives shoppers access to a broader selection of digital content, such as e-tickets and digital gift cards, within a convenient purchase experience.”

To this end, Blackhawk Network has spent 2021 forging partnerships with a variety of companies. This year, the firm has teamed up with eGifting company Givingli, supermarket Tops Friendly Markets, digital asset marketplace Bakkt, and apparel retailer UNTUCKit. Most recently, technology from Blackhawk Network has been deployed to enable both PayPal and Venmo bring additional digital payment options to leading supermarket retailer Giant Eagle.

Blackhawk Network was founded in 2001, and has been a Finovate alum for almost ten years. A publicly traded entity on the NASDAQ – under the ticker “HAWK” – Blackhawk Network has a market capitalization of $2.5 billion. This year has featured a number of C-suite changes for the Pleasanton, California-based company, appointing former Google executive Nikhil Sathe as Chief Technology Officer in February, Cory Gaines as Chief Product Officer in May, and David McLaughlin as Chief Financial Officer in June.

Photo by Silvia from Pexels

Share this:

Send Post Twitter LinkedIn Facebook

DriveWealth Raises $450 Million at $2.85 Billion Valuation

DriveWealth Raises $450 Million at $2.85 Billion Valuation
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, DriveWealth, Funding

After recently receiving $450 million in funding, digital trading and brokerage company DriveWealth is now worth $2.85 billion. The investment brings the company’s total funding to $551 million.

The Series D round was co-led by Insight Partners and Accel and included a follow-on investment from Fidelity International Strategic Ventures, Base 10, FTX, and FlightDeck. Greyhound Capital, Softbank Vision Fund, and Point72 Ventures also participated.

The New Jersey-based company will use the new funds to become the forefront of embedded investing technology for global digital wallets and brokerages. Specifically, the investment will help DriveWealth hire new employees, make acquisitions, and form partnerships. The funds will also be crucial for the company as it seeks to expand its products and services, including launching a self-clearing product.

“We are in the early innings of a worldwide retail investing revolution,” said company Founder and CEO Bob Cortright. “Our goal is for DriveWealth to be the partner of choice to deliver the embedded investing experience of the future. This new capital and investor engagement will accelerate our global expansion plans in order to become the world-class, exchange-like technology company that powers tomorrow’s investing products.”

Julie Coin and Robert Cortright founded DriveWealth in 2012 with the goal to democratize investing across the globe. Via its API, the fintech helps companies make investing friendly for inexperienced investors with fractional trading, enabling users to begin investing with as little as $1. DriveWealth’s API also allows clients to provide non-U.S. citizens with access to U.S. markets.

DriveWealth’s clients include Revolut, Hatch, MoneyLion, and Sharesies. Through partnerships like these, the company’s technology reaches investors in 153 countries.

Photo by M. B. M. on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

BOKU Launches New Mobile Payments Network

BOKU Launches New Mobile Payments Network
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Boku, Daily news

Mobile payments company BOKU announced its expansion beyond carrier billing today with the launch of M1ST, a mobile payments network.

M1ST, also known as Mobile First, features 330+ mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes. The payment methods reach 5.7 billion mobile payment accounts across 90 countries.

“Today, we’re launching the M1ST Network to enable global merchants to acquire, monetize, and retain mobile-first consumers,” said BOKU CEO Jon Prideaux. “For merchants to capitalize on the massive potential of mobile-first consumers, they need to accept the payment methods they have and prefer, which are increasingly behind glass screens, not rectangular pieces of plastic.”

The new network, which runs via a single integration, is a solution for the currently fragmented mobile payments space. The technology circumvents many hurdles that come with with payments, including the myriad of tax and legal regulations associated with different geographies.

With M1ST, merchants receive a single, global settlement which eliminates the complexity of local taxes, foreign exchange, and cash repatriation. Additionally, BOKU’s payment licenses enable merchants to accept regulated payments in nearly 50 countries.

BOKU’s new launch comes at a good time in the payments space. As consumers continue transitioning to digital banking and transaction methods, many are becoming increasingly comfortable with digital payments via mobile wallets.

Founded in 2008, BOKU offers digital customer acquisition, customer onboarding, and mobile user authentication tools. The San Francisco-based company currently serves more than 600 global merchant partners and processes $9 billion in payments every year.

Photo by Sander Weeteling on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

BECU Teams Up with MX to Help Low-Balance Members Save More

BECU Teams Up with MX to Help Low-Balance Members Save More
By David Penn Posted on
Categories: Alumni News, Daily news, MX

Financial data platform MX announced a collaboration with 1.2 million-member BECU (Boeing Employees Credit Union) to build a new mobile app feature called Quick Save that will help members boost their savings. Piloted last year with BECU members that had low savings account balances, Quick Save helps increase savings via an easy-to-use “slide to save” module that enables frequent, small dollar amount transfers.

“BECU is continually innovating and leveraging technology to improve our members’ experience and empower them financially,” BECU Director of Digital Strategy Liz Wagner explained. “It’s been inspiring to see Quick Save go from a concept to a fully functioning tool that members in this pilot are using to build their savings.”

The pilot project was conducted – and evaluated – in coordination with the Financial Health Network (FHN). Over the course of five months, FHN determined that BECU members using the new solution had transferred more than $2 million into savings accounts, representing an 18% increase in savings balance for the credit union’s low-balance savers, and a 26% increase in money movement via mobile transfers. Wagner credited the “combined power” of all three parties involved for both helping build and measure the effectiveness of the Quick Save offering, adding that the solution would “meaningfully improve our members’ financial health.”

Quick Save is only the latest example of the relationship that the Utah-based fintech and BECU have cultivated. More than five years ago, BECU went live with Helios by MX, a cross-platform framework that enables device- and platform-agnostic, full-featured digital banking.

“When it comes to mobile banking, every option we looked at functioned about the same,” BECU VP of Digital Banking Howie Wu said after the technology had been implemented. “We saw Helios as a chance to stand out and provide a very different experience.” Wu highlighted digital money management, aggregation, budgeting, and alert notifications among the offerings available via the framework – “all features that would enable our members to be financially strong,” Wu explained. Within 18 months of its deployment, BECU reported a 170% increase in billpay, a 56% increase in money transfers, and a 22% increase in check deposits.

Headquartered in Tukwila, Washington (a suburb of Seattle) and founded in 1935, BECU has assets of more than $26 billion. The institution is the largest credit union in Washington State and the fourth largest credit union in the U.S.

“BECU and MX have been aligned partners for years, both resolute in our determination to help strengthen the financial well-being of BECU members and their community,” MX Chief Customer Officer Nate Gardner said. He called Quick Save “yet another example of BECU’s wholehearted commitment to financial strength” as well as delivering “intelligent and personalized money experiences for the hundreds of thousands of members they serve.”

A multiple-time Finovate Best of Show winner, MX returns to the Finovate stage next month in September for FinovateFall in New York.

Share this:

Send Post Twitter LinkedIn Facebook

Plaid Lands Funding from JP Morgan Private Capital & Amex

Plaid Lands Funding from JP Morgan Private Capital & Amex
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Funding, Plaid

Financial data and infrastructure platform Plaid announced today that it received an undisclosed amount of new funding from J.P. Morgan Private Capital Growth Equity Partners and Amex Ventures, which first invested in the California-based company in 2016. The new round boosts Plaid’s total funding somewhere north of $724 million.

In a statement, the company said that today’s investment will help it “further accelerate efforts to meet rising consumer demand for digital finance; a shift powering the rapid growth of Plaid’s diverse customer ecosystem.”

The funds are an add-on to the company’s $425 million Series D round announced in April. While that investment valued Plaid at $13.4 billion, today’s new funds do not alter the valuation.

This may be J.P. Morgan’s first investment in Plaid, but the two have been data partners since 2018. There is also a storied history between Plaid and J.P. Morgan CEO Jamie Dimon. Earlier this year Dimon cited Plaid as an example of a company that improperly uses client data. However, Dimon did not cite any specific scenarios to back up his accusation.

Plaid was founded in 2013. The company builds APIs to connect consumers, financial institutions, and developers. Plaid also offers a suite of analytics products that provides further insights into transactions. As the rise of open finance in the U.S. has begun to impact firms both in and out of fintech, Plaid is on its way to becoming a household name.

“While we’re still in the early innings of the digital transformation in financial services,” said Plaid CEO Zach Perret, “we’re excited to work with the thousands of banks, fintechs and non-financial institutions in our network to create what’s next.”

Photo by Live Richer on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook

Paysafe Acquires SafetyPay for $441 Million

Paysafe Acquires SafetyPay for $441 Million
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, SafetyPay

In the latest fintech tie-up, Paysafe has acquired SafetyPay. The all-cash transaction marks Paysafe’s 13th acquisition and is expected to close for $441 million in the fourth quarter of this year.

Paysafe aims to leverage Florida-based SafetyPay, which has locations in 16 countries– 11 of which are located in Latin America– to boost its own presence in that geography.

SafetyPay was founded in 2006. The company enables users to make online cash payments, bank transfers, and cross border transactions without a payment card. The company’s network includes more than 380 banks and it works with 180,000 brick-and-mortar locations as cash collection points.

U.K.-based Paysafe was founded in 1996 and offers similar payment services as SafetyPay, including an online cash payments tool. Paysafe also provides digital wallets, standalone and integrated point of sale tools, and a digital marketing marketplace where advertisers can acquire new customers, monetize their traffic and generate revenue through partnerships.

Once the acquisition closes, the SafetyPay team will work as part of Paysafe’s eCash and online banking solutions group. SafetyPay CEO Gustavo Ruiz Moya will become CEO of eCash for Latin America and Global Head of Open Banking.

Paysafe’s previous acquisitions have greatly increased the breadth of its services. The company’s brands include Income Access, Paysafecard, Paysafecash, Neteller, Petroleum Card Services, and Skrill. Among Paysafe’s clients are MindBody, RentMoola, Policy Expert, and Amilia.

Photo by Franck on Unsplash

Share this:

Send Post Twitter LinkedIn Facebook