Linx set to acquire PinPag to bolster its cross selling strategy
Category: #retail  By Pankaj Singh  Date: 2020-01-31
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Linx set to acquire PinPag to bolster its cross selling strategy

Acquisitions and collaborations have become commonplace across industries worldwide. So is the case with a Brazilian retail software expert, Linx. The company is all set to take over PinPag, a specialist in products and services for modes of payment in the coming time. Moreover, the company would pay a hefty amount of BRL 135 million in cash, subjected to the achievement of financial and operational goals over 2021 to 2022. Further, Linx is entitled to pay an amount up to BRL 65 million.

It has been reported that the acquisition would strengthen Linx’s cross selling strategy of its fintech Linx Pay Hub services and products.

As per credible sources, the acquisition movement would also bring new customers to Linx which include the retailers, driving schools, and auto repair shops. For the uninitiated, PinPag offers customized installment solutions for retail services across different sectors.

Speaking on the matter, the CEO of Linx, Alberto Menache reportedly cited that the addition of PinPag in their team would empower the company’s fintech Linx Pay Hub and also expand its operations at the services sector. Additionally, this acquisition would introduce nearly 17 thousand new customers to Linx in the upcoming years. He further added that PinPag’s innovative installment solutions would now be available to the entire Linx customer base.  

This is not the only acquisition that has benefitted Linx in a long time. Earlier this year, Linx partnered with PicPay to enable the payments through QR code. PicPay is Brazil’s one of the largest payment apps consisting of nearly 13 million users. Under this pact, both the companies would bring potential for users to make QR code payments at approximately more than 100,000 establishments making the use of Linx system. It would also build an easy transaction for PicPay merchants and users and also prevent frauds along with a faster and efficient management.

Source credit: https://finance.yahoo.com/news/linx-acquires-pinpag-015500828.html



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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