Visa acquires Payworks for an integrated payment acceptance solution
Category: #retail  By Pankaj Singh  Date: 2019-07-19
  • share
  • Twitter
  • Facebook
  • LinkedIn

Visa acquires Payworks for an integrated payment acceptance solution

Visa, the financial services company recently announced acquisition of Payworks, the Munich-based makers of payment gateway software for the POS (point of sale). The company plans to integrate cloud-based solution of Payworks into its CyberSource digital payment management platform to generate a completely integrated payment acceptance solution for acquirers and merchants.

The joint offering will provide payment service providers and acquirers with an up to date, omnichannel payment management platform. The finances related to the deal are yet not disclosed.

For the record, Payworks is a payment gateway technology for the Point of Sale and provides connectivity through face-to-face streamlining. By combining Payworks’ cloud-based architecture with top of the class CyberSource eCommerce & mobile payment capabilities, merchant and acquirer clients of Visa will be enabled to conduct face-to-face transactions across various POS terminal types, which include digital experiences via single integration.

As per credible sources, the acquisition has followed a strategic partnership & investment that Visa made in Payworks last year. Visa's acquirer clients and merchants can use the Payworks integration to run and configure point of sale offerings & terminals.

Carleigh Jaques, Senior Vice President and global head of digital merchant products for Visa was reported to say that the company has partnered with Payworks for past two years to deliver groundbreaking integrated commerce solutions for clients of CyberSource worldwide. As the solutions become more mainstream, associating more closely with Payworks & combining businesses will be an extension of the long-standing partnership, Jaques added.

Christian Deger, CEO and co-founder of Payworks was reported to say that integrated commerce is a beneficial opportunity for Payworks and its clients. By combining the firm’s point of sale technology with digital commerce capabilities of CyberSource, the companies together can bring joint solution to merchants and acquirers across the globe at an enhanced pace. Payworks is better positioned in joining Visa family to integrate its capabilities to deliver advanced, differentiated integrated-commerce solutions, Deger added.

Source credits: https://www.zdnet.com/article/visa-acquires-payments-gateway-maker-payworks/



About Author

Pankaj Singh

Email: [email protected]   

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...

Read More

More News By Pankaj Singh

US buys all of the global supply of Gilead’s COVID-19 drug remdesivir
US buys all of the global supply of Gilead’s COVID-19 drug remdesivir
By Pankaj Singh

While top-notch companies are racing to develop a vaccine for COVID-19, it looks like the United States has secured almost all of the world’s supply of interim drug remdesivir to treat patients with COVID-19.

...

Potential COVID-19 vaccine by Bharat Biotech to enter clinical trials
Potential COVID-19 vaccine by Bharat Biotech to enter clinical trials
By Pankaj Singh

Bharat Biotech International, a leading Indian biotechnology company, has reportedly announced that its potential coronavirus vaccine, Covaxin, has received Drug Controller General of India (DCGI) approval to start hum...

Seattle Genetics reveals positive data from tisotumab vedotin trial
Seattle Genetics reveals positive data from tisotumab vedotin trial
By Pankaj Singh

Seattle Genetics, Inc., a renowned biotechnology firm that focuses on developing antibody-based cancer treatments, has recently revealed positive topline data from its Phase 2 clinical trial (innovaTV 204) assessing ti...