Payvision secures strategic investment from ING Group
Speeding up further innovation in the payments space and business growth
AMSTERDAM, the Netherlands, Jan. 29, 2018 (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.
Ralph Hamers, CEO of ING said: "The payments sector is one of the most dynamic areas of the financial services industry. In order to stay a step ahead, ING has to constantly innovate. We do that by starting up own ventures and by strategically taking minority or majority stakes. Payvision's founding team has developed a great business with a proven technology in an area where ING wants to grow. We are confident our customers will strongly benefit from this investment."
For this deal, Payvision was advised by Jefferies, the global investment banking firm. The transaction is expected to close in the 1st quarter of 2018.
Note for editors
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@example.com
Payvision and ING will host a media call on 29 January 2018 at 11:00 a.m. CET. Journalists are welcome to join the conference call via +31 20 531 5871 (NL) or +44 203 365 3210 (UK).
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 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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Payvision via Globenewswire
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