Amsterdam, the Netherlands – March, the 13th, 2018 – Payvision, a global merchant acquirer and omnichannel payment provider, announced today the successful closing of the transaction to sell 75% stake to ING Group. After twelve weeks from the partnership announcement and following the receipt of all required regulatory approvals such as the approval of the central bank of the Netherlands, DNB, all conditions for the acquisition have been successfully fulfilled.
As previously announced, Payvision’s founding management team will continue to lead the company, holding a 25% minority stake.
Payvision’s business rationale to secure a strategic investment from ING was twofold:
- To accelerate innovation and growth plans building on the traction registered in 2016 and 2017, (66% volume growth) and make a new step within the payments space.
- Commercially, together with ING, Payvision is able to offer a wider proposition, with expanded capabilities such as faster remittance and pre-financing.
Furthermore, Payvision’s commercial appeal to merchants and verticals will increase and enable the company to serve its clients better, by fulfilling more touchpoints in the payment ecosystem via a one-stop shop solution.
Essentially, one of the main strengths of this strategic partnership stays in the combined offering of payment and banking products, unique in the market, enabling ING’s existing clients to easily access Payvision’s omnichannel, data-driven payment solutions.
Payvision Profile
Payvision is one of the fastest-growing global card acquiring networks in the world. During the past 15 years, Payvision has built an independent, international acquiring network connecting payment service providers and their global merchants in the US, Europe, Asia and the Pacific. Payvision offers a global processing platform, 24/7 support, 150+ transaction currencies, a high-end reporting interface and a solid risk management solution. With the launch of Acapture in 2015 – a scalable, new, modern, data-driven payment solution, Payvision completed its omnichannel package, supporting merchants to trade easier through a fast, secure processing platform for all transactions processed worldwide. This results in better authorization rates, less fraud, improved security and increased revenues for merchants. Learn more about Acapture at https://www.acapture.com/.
Payvision was awarded Best Acquirer at MPE Berlin 2016, Best Merchant Acquirer/Processor at the 2015 Payments Awards, and Best PSP at the 2017 MPE Awards in Berlin. Payvision is headquartered in Amsterdam and serving customers in over 40 countries, with offices in New York, Utah, Madrid, London, Toronto, Singapore, Tokyo, Hong Kong and Macau. For more information about Payvision, please visit www.payvision.com and follow us on: Twitter @payvision, LinkedIn, Facebook, YouTube, and Corporate blog. Press contact: Floriana Cristea | Global Communications Strategist, mobile: +31648938997, e-mail: [email protected]
