Visa acquires Payworks for an integrated payment acceptance solution
Category: #retail  By Pankaj Singh  Date: 2019-07-19
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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/



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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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