- Latest acquisition accelerates Paysafe’s growth in Germany and
other key markets where consumers continue to move away from the
legacy banking system.
- viafintech shareholders – Glory Ltd and GRENKE BANK AG – to
continue partnering with Paysafe post sale.
Paysafe (NYSE:PSFE) (“the Company”), a leading specialized
payments platform, today announced that it has signed a definitive
agreement to acquire market-leading German fintech company,
viafintech, in an all-cash transaction. viafintech, known under the
brands of Barzahlen/viacash and viacash, offers the largest, bank
independent, payments infrastructure in the DACH region, allowing a
popular alternative to the traditional banking structure. For
Paysafe, this latest acquisition not only boosts its growth
opportunities in Germany, a critical market for its international
merchants, it also creates revenue-generating opportunities to
cross-sell viafintech’s alternative banking and payments solutions
to its merchants around the world.
Paysafe’s core purpose is to enable businesses and consumers to
connect and transact seamlessly through industry-leading
capabilities in payment processing, digital wallets, eCash and open
banking solutions. It offers over 70 payment types in over 40
currencies around the world.
viafintech was founded in 2011 and integrates with digital
banking apps to offer an innovative “mobile ATM” concept which
enables consumers to make deposits or withdraw cash from their
digital bank accounts at a nearby retail store using a barcode;
something that is becoming increasingly popular in the region as
bricks and mortar bank branches close and fast-growing challenger
banks and digital wallets disrupt the market. viafintech solutions
are also used widely for bill payments and credit payouts, as well
as for online shopping in general, supporting millions of consumers
in the region who don’t have bank accounts, or who simply prefer
the heightened security of using eCash to pay online.
Headquartered in Germany, where it has a market leading
position, it also has a presence in an additional five European
countries with plans to expand further. It operates via a network
of 20,000 points of sale with over 20 well-known retail partners,
and also has deep relationships in the banking, bill payments and
eCommerce industries.
The combination of viafintech’s established banking framework
and market leadership in Germany and elsewhere in Europe, together
with Paysafe’s diverse payments portfolio and international
merchant base, is expected to create compelling growth
opportunities for each organisation, both within Europe and
beyond.
As part of the deal, the viafintech team, including viafintech’s
managing directors, Sebastian Seifert, Achim B�nsch and
Andreas Veller, will become part of Paysafe’s expanding
eCash and open banking solutions’ team which is headed up by
Paysafe eCash CEO, Udo Müller.
This latest acquisition builds on Paysafe’s recent Latin
American acquisition agreements with PagoEfectivo and SafetyPay and
allows Paysafe to solidify its position as a global market leader
for eCash and open banking solutions where multiple payments
players are competing to gain a stronger foothold in the emerging
open banking ecosystem and the provision of alternative payment
methods (APMs). On completion of the three acquisitions, the
Paysafe eCash business will be able to offer eCash and open banking
solutions in over 60 countries with over one million distribution
points.
Following the sale of their shares to Paysafe, viafintech’s
majority shareholder - Glory Ltd., a global leader in cash
technology solutions - will enter into a new strategic partnership
with Paysafe. The two companies have signed a referral agreement
that enables Glory to offer paysafecard, one of Paysafe’s leading
eCash solutions, as a form of payment within its in-store payments
kiosks, and, in turn, for Paysafe to offer Glory’s cash technology
solutions to its merchants around the world.
Meanwhile, GRENKE BANK AG, which has been providing viafintech’s
German bank license and proven regulatory framework since 2017, as
well as being a shareholder of the company, will continue to
provide the same banking service going forward.
Udo Müller, CEO, Paysafe eCash and Open Banking,
commented:
“We are very excited to welcome a star player like viafintech
into the Paysafe family. We believe the team are perfectly
positioned to take advantage of the shift away from the legacy
banking system in Germany and beyond as more and more challenger
banks enter the market and consumers opt to use mobile-based
solutions for banking and payments. By combining viafintech’s
leading solutions with our existing eCash and APM portfolio, we are
well positioned as an essential payments partner to challenger
banks around the world as consumer banking habits continue to
evolve.”
Sebastian Seifert, Co-founder and Managing Director of
viafintech, added:
“We are delighted to become part of the Paysafe Group and
believe this move will enable us to build on our business
achievements to date and accelerate our future growth as Europe’s
number one, non-banking, cash-in / cash-out infrastructure, further
fuelling the shift away from legacy banking and driving more
financial inclusion in general.”
The transaction is expected to close over the coming months,
subject to customary closing conditions and in accordance with
applicable laws and regulations. Until that time, the two
organisations will continue to operate independently.
Notes to editors:
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE:PSFE) (PSFE.WS) is a leading
specialised payments platform. Its core purpose is to enable
businesses and consumers to connect and transact seamlessly through
industry-leading capabilities in payment processing, digital
wallet, and online cash solutions. With over 20 years of online
payment experience, an annualised transactional volume of US $92
billion in 2020, and approximately 3,400 employees located in 12+
global locations, Paysafe connects businesses and consumers across
70 payment types in over 40 currencies around the world. Delivered
through an integrated platform, Paysafe solutions are geared toward
mobile-initiated transactions, real-time analytics and the
convergence between brick-and-mortar and online payments. Further
information is available at www.paysafe.com.
About Paysafe’s eCash Division
Paysafe is a global market leader in the provision of eCash
payment solutions. The goal of its eCash division is to target
simple and secure online transactions through prepaid and online
cash solutions. Today, it is available to purchase in over 650,000
sales outlets in over 50 countries and its brands include
paysafecard, paysafecard account, paysafecard Mastercard® and
Paysafecash.
Its original product, paysafecard, uses a 16-digit PIN and
enables customers to shop online without using an account or credit
card, protecting their confidential financial information. In 2018,
the paysafecard team developed Paysafecash allowing customers to
shop online first and then pay securely for their purchases with
cash at convenient, nearby payment points. Paysafecash is already
available in nearly 30 countries. In 2020, paysafecard and
Paysafecash reached a transaction volume of more than US$ 4.6
billion.
For more information, please go to www.paysafecard.com
About viafintech
viafintech was founded in 2011 and is headquartered in Berlin,
Germany. It is led by Achim B�nsch, Sebastian Seifert, Junichi
Takemura and Andreas Veller.
The company integrates with digital banking apps to offer an
innovative “mobile ATM” concept which enables consumers to make
deposits, transfers or withdraw cash from their digital bank
accounts at a nearby retail store using a barcode. viafintech
solutions are also used widely for bill payments and credit
payouts, as well as for online shopping in general, supporting
millions of consumers in the region who don’t have bank accounts,
or who simply prefer the heightened security of using eCash to pay
online.
A market leader in Germany, viafintech also has a presence
in five other European countries where
it is known under the brands of Barzahlen/viacash (in Germany and
Austria), and viacash (in Switzerland, Italy, Greece and Spain). It
operates via a network of 20,000 points of sale with over 20
well-known retail partners including REWE, Rossmann, dm, PENNY,
BILLA, SBB, Carrefour Italy and Bonpreu. It also has deep
relationships in the banking, bill payments and eCommerce
industries.
viafintech is a private company backed by various shareholders
including Glory Ltd. and GRENKE Bank AG.
About GLORY
As a global leader in cash technology solutions, we provide the
financial, retail, QSR, cash center and gaming industries with
confidence that their cash is protected and always working to help
build a stronger business.
Our cash automation technologies and process engineering
services help businesses in more than 100 countries optimize the
handling, movement and management of cash. While we span the globe,
we personally engage with each customer to address their unique
challenges and goals — enhancing staff efficiency, reducing
operating costs and enabling a more rewarding customer
experience.
Employing over 11,000 professionals worldwide with dedicated
R&D and manufacturing facilities across the world, GLORY is
built on a rich customer-focused, technology-driven heritage
spanning almost a hundred years.
For further information please visit www.glory-global.com or
follow us on Twitter: http://twitter.com/glory_global.
About GRENKE
The GRENKE Group (GRENKE) is a global financing partner for
small and medium-sized companies. As a one-stop shop for customers,
GRENKE's products range from flexible small-ticket leasing and
demand-driven bank products to convenient factoring. Fast and easy
processing and personal contact with customers and partners are at
the centre of GRENKE's activities.
Founded in 1978 in Baden-Baden, the Group operates in 33
countries and employs more than 1,800 staff (full-time equivalents)
worldwide. GRENKE shares are listed in the SDAX on the Frankfurt
Stock Exchange (ISIN DE000A161N30).
Forward-looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, a guarantee, an assurance, or a definitive
statement of fact or probability. Paysafe Limited’s (“Paysafe,”
“PSFE” or the “Company”) actual results may differ from their
expectations and estimates and, consequently, you should not rely
on these forward-looking statements as predictions of future
events. Words such as “anticipate,” “appear,” “approximate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “foresee,”
“guidance,” “intends,” “may,” “might,” “plan,” “possible,”
“potential,” “seek,” “should,” “would” and variations of such words
and similar expressions may identify forward-looking statements,
but the absence of these words does not mean that a statement is
not forward-looking.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially, and potentially adversely, from those expressed or
implied in the forward-looking statements. While the Company
believes its assumptions concerning future events are reasonable, a
number of factors could cause actual results to differ materially
from those projected, including, but not limited to: the timing and
satisfaction of closing conditions in connection with the
transaction, the possibility that the transaction may not close,
economic and political conditions in the global markets in which we
operate, the possibility that integration following the transaction
may be more difficult than expected.; and other factors included in
the “Risk Factors” in our Form 20-F and in other filings we make
with the SEC, which are available at https://www.sec.gov. Readers
are cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. The Company
expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in their expectations with
respect thereto or any change in events, conditions, or
circumstances on which any statement is based, except as required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210822005021/en/
Media enquiries - Paysafe Kate Aldridge
Kate.aldridge@paysafe.com +44 (0) 750 0797547
Media enquiries - viafintech (German press only) Ulrike
Czekay Ulrike.czekay@viafintech.com +49 163 741 3434
Investor enquiries - Paysafe Kirsten Nielsen
kirsten.nielsen@paysafe.com +1 (646) 901-3140
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