Global payments provider Worldpay has entered an agreement to acquire multi-channel payment solutions provider SecureNet.
The price of the deal is undisclosed, but should close in December, subject to conditions.
SecureNet serves more than 17,000 merchants, with processing volumes exceeding $19bn annually. The company has pioneered the payment industry’s only cloud-based solution to integrate point-of-sale, mobile and eCommerce payments processing, inventory management and data analytics for merchants.
SecureNet also has a significant stack of payment APIs, which can be easily integrated for all types of transactions, in all development languages, across all channels, the company says.
“We can uniquely accelerate the delivery of an integrated, omni-channel payments environment to the market by combining SecureNet’s innovative software integration with Worldpay’s direct acquirer distribution advantages and partnership management strengths gained by our recent acquisition of Century Payments,” said Tony Catalfano, CEO of Worldpay US. “As the US leader in modern money, this also gives us a differentiated ability to offer actionable, SKU-level data insights to our customers to help them grow their businesses.”
Brent Warrington and the SecureNet management team will remain with the company, which will maintain its commitment to the growing Austin technology community.
There’s more signs of consolidation in the crowded European payments space with news that Stockholm-based iZettle is buying a company called intelligentpos.
MasterCard has bought Vocalink for £700m ($920m) in a deal that has been rumoured for months.
Oh, what we wouldn't do to know the future! Like Biff and the Almanac in Back to the Future, all we need is a guide. Luckily the team over at Pivotl is on hand to give us one for the future of fintech.
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