MYPINPAD AND SMARTPESA MERGE TO BECOME THE WORLD LEADER IN MOBILE PAYMENT ACCEPTANCE
MYPINPAD, a global leader in mobile payment acceptance and digital authentication solutions, and SmartPesa, a leading provider of payment systems and branch banking solutions, have agreed to merge. The merged entity will operate under the corporate name MYPINPAD.
As the industry moves towards adopting the future MPoC on COTS (Consumer Off-The-Shelf) mobile payments standard established by the PCI Security Standards Council, MYPINPAD customers will benefit from increased scale, a broader product offering, and the guarantee of continued support. The merger establishes MYPINPAD as the world’s leading supplier to the growing mobile payment acceptance market. The combined entity plans to double its current presence in the Asia Pacific, Latin America, and EMEA regions and target North America in 2022 and beyond.
“We’re thrilled that we can come together with SmartPesa at this time. Their experienced team and strong product capabilities will complement MYPINPAD’s existing suite of PCI certified payments solutions. The combination of our two businesses will accelerate growth, provide economies of scale and better position us to serve our global customer base.”
Richard Forlee, CEO of MYPINPAD.
“We are extremely excited about the future that this merger brings our companies. MYPINPAD is the leading solutions provider of mobile-based payments acceptance solutions backed by a skilled team of experts. Together we can develop innovative new mobile payments solutions for customers and merchants at scale.”
Barry Levett, Founder and Executive Chairman of SmartPesa.