AMSTERDAM, the Netherlands, Jan 29 (Bernama-GLOBE NEWSWIRE) -- Payvision, a global merchant acquirer and omnichannel payment provider, announced today a strategic partnership with ING, one of the largest European banks, with a strong international network. Payvision has agreed to sell a majority stake of 75%, creating a new synergy that will accelerate its ambitious growth plans within the dynamic payments market, extend its global network and broaden its payment product portfolio. Payvision is valued at €360 million.
Founded in 2002, in Amsterdam, Payvision is at the forefront of the payments industry and it has been growing at a very fast pace, registering a robust 66% volume growth in 2017. With the launch of Acapture, a new, scalable, data-driven payment service provider, in 2015, Payvision aims to bolster group’s position as a global merchant acquirer and omnichannel payment provider. The partnership with ING builds on Payvision’s strong foundation in the acquiring space and will support company’s goal to create innovative, tailor-made payments products designed for the fast-paced international retail environment.
According to the deal, Payvision’s founding management team will hold a 25% minority stake and will continue to lead the company, backed-up by ING’s global presence and retail market share, its vast experience in financial services and its ability to streamline payment products.
Rudolf Booker, founder and CEO of Payvision, said: “It’s with great excitement that we’re announcing the partnership with ING today. Within 15 years of the company’s inception, we feel it’s the right time to make such a strategic step to strengthen the company’s foothold in the payments industry.” “This investment in the payments market, made by one of the world’s most innovative financial and banking services brands, acknowledges our vision to deliver leading payments capabilities to support customers to maximize their revenues,” continued Booker.
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