back Back

Paysafe to acquire viafintech for Germany and European expansion

By Joy Dumasia

August 23, 2021

Share

Paysafe, a specialized payments platform, announced that it had signed a definitive agreement to acquire a market-leading German FinTech company viafintech in an all-cash transaction. This latest acquisition not only boosts its growth opportunities in Germany, a critical market for its international merchants. It also creates revenue-generating opportunities to cross-sell through viafintech’s alternative banking and payments solutions to its merchants worldwide.

Paysafe’s core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallets, eCash and open banking solutions. It offers over 70 payment types in over 40 currencies around the world.

The combination of viafintech’s established banking framework and market leadership in Germany and elsewhere in Europe, together with Paysafe’s diverse payments portfolio and international merchant base, is expected to create compelling growth opportunities for each organization, both within Europe beyond.

This latest acquisition builds on Paysafe’s recent Latin American acquisition agreements with PagoEfectivo and SafetyPay. It allows Paysafe to solidify its position as a global market leader for eCash and open banking solutions where multiple payments players are competing to gain a stronger foothold in the emerging open banking ecosystem and the provision of alternative payment methods.

Udo Müller, CEO, Paysafe eCash and Open Banking, said: “We are very excited to welcome a star player like viafintech into the Paysafe family. We believe the team are perfectly positioned to take advantage of the shift away from the legacy banking system in Germany and beyond as more and more challenger banks enter the market and consumers opt to use mobile-based solutions for banking and payments. By combining viafintech’s leading solutions with our existing eCash and APM portfolio, we are well-positioned as an essential payments partner to challenger banks around the world as consumer banking habits continue to evolve.”

Recently, IBS Intelligence reported that Paysafe payments platform announced it had appointed International Payments Executive Chirag Patel as CEO of its Global Digital Wallets business.

Previous Article

August 23, 2021

Cooperative Teachers Credit Union selects Scienaptic

Read More
Next Article

August 24, 2021

Lafayette Federal Credit Union opts for Bankjoy’s Full Digital Banking Suite

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Over 72% Financial Institutions to invest heavily in ESG Technology

Read More

Today

4 B2B SaaS platforms transforming business operations in the UK

Read More

Today

The Deep dive: AI in the BNPL Market

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024