he specialized payments system Paysafe introduced that it has signed a definitive settlement to receive a German fintech business, viafintech, in an all-dollars transaction. viafintech, acknowledged less than the brands of Barzahlen/viacash and viacash, delivers the greatest, lender-unbiased, payments infrastructure in the DACH area.
This most recent acquisition not only boosts Paysafe’s growth possibilities in Germany but also creates earnings-creating alternatives to cross-provide viafintech’s alternate banking and payments remedies to its retailers all-around the world.
This most up-to-date acquisition builds on Paysafe’s latest Latin American acquisition agreements with PagoEfectivo and SafetyPay. On completion of the 3 acquisitions, the Paysafe eCash company will be able to provide eCash and open up banking alternatives in above 60 nations with over a person million distribution factors.
Pursuing the sale of their shares to Paysafe, viafintech’s the vast majority shareholder Glory Ltd., a money technological innovation methods enterprise, will enter into a new strategic partnership with Paysafe. The two providers have signed a referral settlement that allows Glory to present paysafecard, one particular of Paysafe’s eCash solutions, as a type of payment inside of its in-store payments kiosks, and, in turn, for Paysafe to offer you Glory’s money technological innovation methods to its retailers.
In the meantime, GRENKE Financial institution AG, which has been offering viafintech’s German financial institution license and confirmed regulatory framework considering that 2017, as well as remaining a shareholder of the organization, will go on to provide the same banking provider likely forward.
As element of the offer, the viafintech workforce, which include viafintech’s controlling directors, Sebastian Seifert, Achim Bönsch, and Andreas Veller, will come to be part of Paysafe’s eCash and open up banking solutions’ staff which is headed up by Paysafe eCash CEO.
The transaction is expected to shut more than the coming months, subject matter to customary closing problems and in accordance with relevant regulations and laws. Until finally that time, the two corporations will carry on to work independently.
Udo Müller, CEO of Paysafe eCash and Open up Banking, commented: “We are really psyched to welcome a star player like viafintech into the Paysafe family. We believe that the group is perfectly positioned to take advantage of the change away from the legacy banking method in Germany and outside of as much more and more challenger financial institutions enter the current market and buyers decide to use cellular-based solutions for banking and payments. By combining viafintech’s primary options with our present eCash and APM portfolio, we are properly-positioned as an crucial payments associate to challenger banking companies all over the environment as consumer banking behaviors continue to evolve.”
Sebastian Seifert, Co-founder and Handling Director of viafintech, included: “We are delighted to become component of the Paysafe Team and believe that this transfer will help us to construct on our organization achievements to day and accelerate our potential growth as Europe’s number 1, non-banking, cash-in / funds-out infrastructure, further fuelling the shift absent from legacy banking and driving much more fiscal inclusion in standard.”