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Stax Payments Acquires APPS, Expands Technology Stack to Offer Bespoke End-to-End Payment Processing Experience
Stax Payments, a leading payment technology provider, today announced the acquisition of Atlantic-Pacific Processing Systems (APPS), creating a seamless end-to-end payment processing platform . The APPS integration marks a significant expansion in Stax’s technology stack, providing partners and merchants with flexible and customizable options for their payment processing needs on one cohesive platform. final, unique.
“Our partners and customers want a simple, secure, multi-channel payment experience, not only for themselves but for their end consumers,”
“Through the acquisition of APPS, we have heightened our innovation capabilities and technology position, allowing us to create a bespoke payment experience for any merchant, ISV, ISO, or payment facilitator. I’m excited to lead a new era of growth for our employees, partners, and customers.”
Paulette Rowe, CEO of Stax.
The APPS platform, which will be called Stax Processing, will over time serve as the foundational processing layer supporting fintech services for ISVs, ISOs and SMBs. The new comprehensive, seamless ecosystem will include enhanced omnichannel offerings, enhanced data reporting and additional personalization capabilities. This significant expansion of Stax functionality will begin in the fourth quarter of 2023, with full integration and additional developments planned throughout 2024.
With this acquisition, members of the APPS leadership team will join Stax to usher in a new era of all-in-one payments processing. , with APPS CEO Abe Maghaguian moving to Stax as head of payments and APPS COO Sarah Gerald promoted to COO processing at Stax. Additionally, Stax welcomes nearly 50 new APPS members to its expanding team.
“As the payment landscape becomes more complex, users are looking for a one-stop shop for all of their payment needs,”
“This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform.”
APPS CEO Abe Maghaguian.
Moove raises $76m in new funding to bolster business growth
Moove, a mobile FinTech, has received $76 million in new funding, including $28 million in equity from new and existing investors.
Funding round led by Mubadala Investment Company (Mubadala), $10 million in venture capital debt from funds and accounts managed by BlackRock, and $38 million in undisclosed amounts previously raised in the last few years 12 months ago.
The African-founded company will use the funding to further its mission to build the largest technology-driven financial services platform for mobile entrepreneurs and strengthen its position on the global stage.
“We are excited to be partnering with Mubadala and BlackRock to double down on our already profitable markets, including the UAE, India, UK, and South Africa, as well as continuing to invest in our customer experience and accelerate our product development to deliver group-wide.’’
Ladi Delano, Co-founder and Co-CEO of Moove.
This investment is an endorsement of Moove’s ability to serve its customers and execute across multiple developing and developed markets. The funding signifies the start of a relationship that will also see Faris Sohail Al Mazrui, Head of Ventures & Growth at Mubadala, join the Moove advisory board.
“Moove has built a highly scalable tech-enabled platform to serve mobility entrepreneurs globally by providing them access to credit and other financial services previously unavailable to them. This is a hugely underbanked and underserved market that we believe has significant long-term potential.”
Faris Sohail Al Mazrui, Head of Ventures & Growth, Mubadala.
Moove aims to provide financial services to people who do not have a bank account or are not served by traditional lenders, so that they can receive income-based financing and access ownership. property ownership as well as financial stability.
TerraPay secures in-principle approval for MPI license from Monetary Authority of Singapore
TerraPay, a payments infrastructure company, has been approved by the Monetary Authority of Singapore (MAS) in principle for a Major Payments Institution (MPI) license, becoming a regulated payments company best.
TerraPay’s global customers and businesses can access its vast network through this coveted MAS endorsement, enabling fully compliant, affordable, and transparent cross-border remittances. . It facilitates fully compliant international money transfers, easy business payments, and alternative payment methods.
The payments company will leverage this license to tap into the region’s enormous potential and strengthen its local presence and existing partnerships in Singapore, Korea, Vietnam and the Philippines.
“I am incredibly proud of the comprehensive network of partners, employees, countries, and licenses we have established worldwide, enabling us to offer simplified payment services for everyone. Obtaining the approval in Singapore is a game-changer, solidifying our position as a leading cross-border payments powerhouse in one of the most significant financial markets globally.”
“At TerraPay, our core values revolve around inclusion and innovation. We are inspired by Singapore’s fintech journey, which aligns perfectly with our mission to improve lives and contribute to a dynamic, inclusive economy. The approval from MAS reinforces our commitment to excellence as we aim to become the most regulatory-approved payments company in the world.”
Ambar Sur, Founder and CEO, TerraPay.
In May 2023, TerraPay announced its Series B equity funding round, in which the company raised more than $100 million for global expansion plans, allowing it to strengthen the network. existing payments and expanding infrastructure and global regulatory and compliance capabilities.
The team has built an expansive payments highway that allows businesses to create a seamless customer experience with an uninterrupted, secure, real-time global process for any payment, no matter how large. or small. TerraPay partners with banks, mobile wallets, remittance operators, merchants and financial institutions, creating a larger and more inclusive international financial ecosystem.
Flynas & Tabby bring 4-month installment payments for travel tickets
flynas, the airline of Saudi Arabia and a low-cost airline in the Middle East, has partnered with Tabby, a financial services and shopping app based on MENA, to provide travelers with payment solutions flexible math.
This partnership comes at a favorable time for travelers, especially with the increasing demand for air travel around the world. It also reflects flynas’ desire to provide customers with a flexible and convenient travel experience.
Payment solutions allow flynas customers to pay for their trips in four interest-free installments. In addition, travelers can now secure their tickets with flexible payments, making travel easier and allowing buyers to explore new horizons and create lasting memories with Loved Ones.
“We are delighted to partner with flynas to bring flexible payment solutions to the air travel industry. This timely partnership will bring air travel closer to so many people looking to go on new adventures and reconnect with their loved ones worldwide”.
Hosam Arab, CEO and Co-Founder of Tabby.
flynas confirms that this agreement reflects flynas’ commitment to providing innovative services and enhancing its growth for digital transformation in the aviation industry.
Tabby creates financial freedom the way people buy, earn and save by reshaping their relationship with money. The shopping and financial services app is active in Saudi Arabia, UAE, and Kuwait, and was valued at $660 million in a recent funding round from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures and Endeavor Catalyst.
HSBC launches embedded finance venture with Tradeshift
HSBC and B2B FinTech Tradeshift have formed a new joint venture focused on developing integrated financial solutions and financial services applications.
As part of the deal, HSBC will invest $35 million in Tradeshift in two phases and join its board of directors. The deal is part of a funding round that is expected to raise at least $70 million from HSBC and other investors.
The new joint venture will allow the bank and FinTech to deploy a range of digital solutions on Tradeshift and other platforms. It will also help Tradeshift expand its trade offering to businesses globally. Details on the joint venture will be announced ahead of its expected launch in early 2024.
“Enabling and growing global trade has been in HSBC’s DNA for almost 160 years. We are very excited to partner with Tradeshift to help businesses and their suppliers trade more smoothly using world-class technology and solutions that the joint venture will deliver.”
“This agreement supports our strategy of being a digital-first bank, which includes our commitment to partnering with FinTechs and embedding our solutions into the platforms of others.”
Barry O’Byrne, CEO of Global Commercial Banking at HSBC.
“The world’s biggest trade bank and the world’s largest trade network are joining forces. Our deepening partnership with HSBC delivers a strong foundation from which to scale and accelerate our vision of a trade network that creates economic opportunity for businesses everywhere.”
“HSBC’s reputation and global infrastructure bring instant credibility and broad appeal to any financial solutions brought to market through the Tradeshift platform. It is transformative, and it is a tremendous validation of the innovation and product architecture we have developed over the past decade.”
Christian Lanng, CEO and Co-founder of Tradeshift.
HSBC supports approximately 1.3 million businesses worldwide and is the world’s largest commercial bank, facilitating over $800 billion in annual trade flows. Tradeshift powers over $260 billion in gross merchandise value annually to one million business users on its platform.
Plaid and Cross River partner to offer real-time payments in the US
Cross Riverbank, a technology infrastructure provider that offers embedded financial solutions, has announced the expansion of its partnership with Plaid, a data network helping the digital financial ecosystem, to deliver multi-rail payment solutions to US businesses and their customers.
“Expanding our relationship with Plaid to power their real-time offerings is a significant milestone in our commitment to driving financial innovation and ensuring faster, secure, and seamless payment experiences,”
“By combining the strengths of our proprietary banking core and advanced API technology with Plaid’s expertise in financial technology tools, millions of Plaid customers will have access to their money when and where they need it.”
Adam Goller, Head of FinTech Banking at Cross River.
Plaid chose Cross River to support Plaid’s real-time solutions because of the company’s ongoing relationship with Cross River’s proprietary API technology and innovative solutions. Cross River’s proprietary API-based core creates direct, efficient, and simplified connections to multiple payment networks ACH, RTP, and upcoming FedNow service.
“Real-time payments can deliver significant efficiency and cost benefits to businesses and help them deliver amazing new experiences for consumers by delivering money when and where they need it,”
“We are excited to expand our relationship with Cross River to deliver innovative real-time payment solutions on top of its API-based processing core.”
John Anderson, Head of Payments at Plaid.
The partnership’s first real-time offering is Instant Payouts on Plaid Transfer, a real-time multi-channel payment solution for instant deposits and payments. Plaid Transfer manages bank transfers and payments, allowing businesses to receive payment authorization, risk analysis, and transfer funds, all in a single API.
It also provides instant payment eligibility information. Businesses can seamlessly route transactions to ACH without complicating their customers if the account is not eligible for Instant Payments.
Tymit and VISA team to offer installment credits to banks & merchants
Tymit has established a strategic partnership with Visa to accelerate the adoption of installment credit among major financial institutions and merchants in the UK and Europe. This partnership aims to enable banks and merchants to offer co-branded and white label installment credit schemes powered by Tymit.
As one of the pioneering installment credit card services, Tymit offers installment plans for popular merchants like Frasers Group with Frasers Plus. Building on this success, the company is now focusing on providing its ability to enable white-label and co-branded installment credit programs to major financial institutions and merchants.
“Our partnership with Visa signifies a significant milestone as we empower financial institutions and merchants to swiftly and cost-effectively bring installment credit solutions to market,”
“With our proven track record and expertise in installment credit, we are poised to meet the needs of the industry by offering innovative co-branded installment credit cards and white-labeled installment credit programs.”
Martin Magnone, CEO and Co-founder of Tymit.
Tymit’s installment credit solutions provide an attractive alternative to traditional credit cards and BNPL programs, specifically designed to address the ever-changing payment challenges faced by merchants and consumers.
By partnering with Tymit, financial institutions and merchants gain access to technology and expertise, allowing them to create co-branded credit card programs with installment options.
This strategic move positions Tymit as a viable option for merchants looking for traditional credit card programs while offering the added advantage of buy now, pay later (BNPL).
“We are excited to partner with Tymit to provide our clients with innovative solutions that address the pressing challenges faced by the industry,”
“This collaboration will empower financial institutions and merchants to meet the changing needs of their customers, offering greater flexibility on card payments whilst enabling an embedded finance ecosystem.”
Federico Sanavio, Credit Products Solutions & Partnerships at Visa.
Cashflows launches new cloud-based in-person payments solution
Cashflows, the platform that allows merchants to accept payments, has launched a new cloud-based direct (point of sale) payment solution. The platform is designed for merchants, independent sales organizations (ISOs) and independent software vendors (ISVs) who want to provide merchants in all industries with a fast and reliable direct payment solution.
As part of the Cashflows payment platform, the solution directly supports a wide range of Android and Linux devices. Connectivity to WiFi and 4G networks is unsurpassed, as is easy integration with ePOS systems.
The solution is device independent and secure and complies with all relevant PCI standards.
The solution is easy to use, with transparent and fixed monthly rates per device.
Cashflows’ new partner leasing model allows ISOs and ISVs to deliver the best Android devices to retailers without the need to purchase the device first.
This opens up new revenue streams with minimal maintenance, upgrade and compliance responsibilities, enhancing Cashflows’ partnership proposition.
All terminals are integrated with Cashflows smart reporting portal, so merchants can access real-time sales data from online and in-person payments in a single dashboard.
This holistic view of trading performance allows traders to understand and act on the information provided.
“Our mission is to change the payments industry for the better, and our new in-person solution is designed to do just that. We have developed a simple, flexible, and function-rich solution that partners and customers can use out-of-the-box, with no complicated setup. When combined with our omnichannel data portal and the expert human support of our teams, we are enabling merchants and ISO and ISV partners to focus on what really matters – growing their business. This is payments, perfected by people.”
Paul Clarke, Chief Product, and Innovation Officer, Cashflows.
Pinpad POS devices that integrate with counters or ePOS systems via APIs and proof of concept (POC) with card diagrams for Tap on Phone functionality will be released by the end of 2023. This will expand merchant flexibility by allowing users to use their own devices as card terminals.
Wisedocs bags $4.5m from CIBC to streamline insurance claim reviews with AI
Wisedocs, an innovative leader in the InsurTech sector, recently received a significant financial boost. CIBC Innovation Banking has extended $4.5m CAD in growth capital financing.
This move is designed to support Wisedocs in broadening its client base and enhancing its product offerings.
The company, renowned for its artificial intelligence (AI) software platform, offers streamlined solutions for summarizing claim files. Specifically, it serves the insurance industry by enabling rapid and cost-effective medical record reviews.
With the new funds, Wisedocs plans to continue its trajectory as a market leader. The focus will be on further developing its intelligent technology platform to manage claims more efficiently. This strategic enhancement aims to leverage advanced generative AI to revolutionise how medical records are processed.
CIBC’s funding follows Wisedocs’ successful $12.7m oversubscribed Series A financing round in January 2024. This indicates strong confidence in Wisedocs’ ongoing expansion and its role within the InsurTech industry.
Connor Atchison, Chief Executive Officer of Wisedocs, praised the partnership with CIBC Innovation Banking. “The CIBC innovation banking team is phenomenal to work with. They have a deep understanding of our business needs, the requirements of a high growth tech company, and the need for dynamic banking solutions to expand globally. We are excited to continue to accelerate our growth with an amazing partner like CIBC.”
SentinelOne launches Risk Assurance Initiative with AI-powered security for insurers
The program, known as the SentinelOne Risk Assurance Initiative, aims to offer insurers the SentinelOne Singularity™ Platform at preferred rates, enabling them to stop attacks before they occur and reduce both financial losses and insurance premiums.
The move has been driven by the growing need for insurers to provide robust cybersecurity solutions to their clients. As cyber threats become more sophisticated, insurers are seeking advanced technologies to mitigate these risks and enhance their service offerings.
The company’s Singularity Platform is recognised for its superior performance in the MITRE Engenuity ATT&CK Evaluations and has been named a Leader in the Gartner Magic Quadrant for Endpoint Protection Platforms for three consecutive years.
Customers have also rated it highly, with a 95% recommendation rate on Gartner Peer Insights.
The platform provides 100 percent detection and the highest level of real-world protection. This initiative will enhance the efforts of leading carriers and cyber insurance providers, including AXA XL, Coalition, Travelers, At-Bay, and CFC, who are already deploying the Singularity Platform to prevent ransomware and other cyber threats.
One of the key features of the new initiative is the Insurance Posture Report, integrated into the Singularity Platform. This comprehensive report on key telemetry signals, mapped to the CIS18 standard, allows customers to share their cybersecurity status with insurers, enabling quick validation of acceptable risk profiles.
Additionally, SentinelOne backs its platform with a $1m Breach Response Warranty, offering financial relief and added assurance in the event of a breach.
Managed Service Solution Providers (MSSPs) also trust SentinelOne to deliver top-notch cybersecurity for their clients.
The Singularity Platform is included in the portfolios of companies like Optiv, which use it for Incident Response and Managed Services. This integration supports SMB and mid-market companies in containing threats, remediating breaches, and maintaining robust risk profiles.
John Roberts, General Manager, Security, Coalition, stated, “When a client is managed with SentinelOne, we know they have strong protection against sophisticated cyber-attacks. Coalition can generally offer them more favourable insurance pricing based on their use of managed detection and response technology than if they did not have those security measures in place. We not only leverage SentinelOne in our Coalition Managed Detection and Response offering as a trusted solution for our clients, but also lean on SentinelOne for Coalition Incident Response to support more rapid containment and remediation for clients that have experienced a breach.”
Next-gen core banking leader Tuum bags €25m in Series B investment
The round witnessed leadership from CommerzVentures, accompanied by contributions from Speedinvest and several returning investors.
The company, renowned for its groundbreaking approach to banking technology, has been on a rapid growth trajectory since its first client partnership in February 2019. Tuum stands at the forefront of digital transformation in the banking sector, offering flexible, cost-effective systems that liberate banks to innovate, develop new products, and penetrate fresh markets.
Boasting a diverse customer base across 10 countries, with a significant footprint in the UK and the Nordics, Tuum’s financial performance has been stellar, showcasing a compound annual growth rate exceeding 250% over the last three years.
The newly secured funds are earmarked for an ambitious expansion plan. Tuum aims to strengthen its international presence, targeting pivotal markets in the DACH region, Southern Europe, and the Middle East, including the establishment of a new office.
Additionally, the investment will enable Tuum to bolster its direct sales and marketing efforts and fortify its partner channel.
Reflecting on the funding round, Tuum CEO Myles Bertrand shared his vision, stating, “I joined Tuum in the summer of last year because I saw the gap in the market for its proposition. Everyone knows that banks need to replace their aging core banking systems if they are going to successfully adapt their business models for digital banking.
“However, no core banking vendor has to date made core migration simple and predictable, which is what Tuum is now doing through a combination of smart migrations, a modular and functionality rich core, massive extensibility, and a broad ecosystem of partners.”
ESG FinTech Watershed raises $100m, hitting $1.8bn valuation
The Series C round brings Watershed’s valuation to $1.8bn. This significant injection of capital comes courtesy of lead investor Greenoaks, with notable contributions from Kleiner Perkins, Sequoia, and several other existing stakeholders.
At its core, Watershed’s mission is to hasten the progression of the climate economy. The firm operates with a heightened sense of urgency and possibility, especially considering the environmental milestones and challenges of 2023.
The year marked not only a peak in global temperatures but also saw unprecedented investments in clean energy sectors. Watershed is strategically positioned to catalyse this momentum into tangible climate action, particularly at a time when Fortune 500 companies and thousands of businesses are mandated to adhere to the EU’s Corporate Sustainability Reporting Directive (CSRD), showcasing their commitment to sustainability.
Within the finance world, Watershed allows clients to analyse, reduce and report on their portfolio’s emissions. Financial institutions can get a complete picture of their financed emissions through a carbon estimation engine, with the information all displayed in a handy dashboard.
The capital infusion is earmarked for several strategic initiatives. Their services are comprehensive and global, catering to a diverse client base that includes industry leaders across sectors. The company is dedicated to assisting these entities in navigating their decarbonisation journey, making informed decisions regarding their supply chains, and achieving their net zero objectives expediently.
Watershed is not resting on its laurels. The firm has been industriously developing and augmenting its suite of tools to meet the escalating standards of climate-related work. Noteworthy milestones include the acquisition of CEDA, the establishment of Watershed Disclosures, and the expansion of the Watershed Marketplace. These advancements are designed to empower companies with precise carbon data and streamlined sustainability reporting. Moreover, Watershed’s collaborations with esteemed organisations like KPMG, Accenture, and ERM, and the guidance from its Policy and Science Advisory Boards, ensure that its approach is both scientifically sound and policy-compliant.
Wisedocs secures $9.5m in Series A to revolutionise InsurTech with AI
The investment was spearheaded by Information Venture Partners, a prominent early-stage B2B FinTech investment firm. They were joined by Thomson Reuters Ventures and ManchesterStory, marking a significant vote of confidence in Wisedocs’ future.
At its core, Wisedocs specialises in the development and provision of machine learning software-as-a-service (SaaS) aimed at medical record review, indexing, and summarisation. This innovative service is transforming the way the insurance industry manages and processes medical claims, setting new standards for efficiency and accuracy.
The recently secured funds are earmarked for several strategic areas of growth. Primarily, the investment will support the expansion of Wisedocs’ team, product offerings, and sales territories. This expansion is part of a broader strategy to capitalise on the company’s rapid growth. Notably, Wisedocs made a significant leap into the American market in 2022, establishing new headquarters in Florida to better serve an expanding US customer base.
Additional developments include the launch of Wisedocs’ state-of-the-art Generative AI product suite. This suite, powered by Large-Language Models (LLMs), is a testament to the company’s commitment to innovation. It is set to revolutionise the entire claims ecosystem by offering an intelligent technology platform that streamlines the claims process for insurers, healthcare providers, legal firms, and third-party administrators.
Wisedocs CEO Connor Atchison commented on the funding, saying, “This latest financing round proves the success of our most recent technological advancements. The claims ecosystem has long remained a siloed and slow-moving machine. With the improvements in automation, intelligence, and centralization that Wisedocs enables, the claims process will be an efficient experience for companies, team members, and claimants alike.”
Insurity launches AI-powered solution to revolutionise decision-making for P&C insurance carriers
Utilising Insurity’s analytics solutions grants carriers an enhanced level of reliable insights into their portfolios, facilitating heightened segmentation and improved loss ratios.
The flagship offering of the solution, known as Insurity Predict, harnesses the power of AI to elevate predictive analytics and modelling capabilities, delivering a substantial enhancement in loss ratios and instilling credibility in strategic decisions.
This solution goes beyond merely boosting the accuracy of risk assessment; it also streamlines the underwriting process. Insurity’s analytics models employ advanced AI and machine learning techniques, enabling automation and furnishing superior decision support.
The move has come in response to today’s complex P&C insurance market, which is facing insurance organisations with a myriad of challenges which require accurate and timely decision-making.
Conventional approaches employed by insurers frequently suffer delays, resulting in considerable financial losses and operational hurdles. Insurity’s analytics solutions, driven by AI-powered insights, provide sophisticated, real-time, and reliable insights. This empowers insurers to acquire a more profound understanding of their portfolio, facilitating proactive business management.
Kirstin Marr, Chief Analytics Officer at Insurity, said, “Insurity Analytics, with its AI-powered insights, is a game-changing tool in the insurance industry, empowering carriers to proactively tackle diverse challenges, ensuring better protection for their policyholders and assets. Insurity Analytics is not just about predicting risks but about equipping our customers with the foresight and tools necessary to protect and serve their policyholders more effectively. This is a leap forward in how we use technology to make a tangible difference in people’s lives during critical moments.”
CollateralEdge empowers middle market with Phalanx Impact Partners’ significant FinTech funding
Phalanx Impact Partners, a pioneering investment firm with a focus on fostering positive environmental and community change, has recently announced a significant investment in CollateralEdge.
The amount invested, though undisclosed, has been gathered from several investors with Phalanx Impact Partners leading the round. This infusion of capital is set to further propel CollateralEdge’s mission of providing competitive commercial loans to small and middle market businesses, addressing a critical need in the financial landscape.
CollateralEdge operates at the intersection of technology and finance, offering a revolutionary platform that provides hard collateral support instantly. This aids community banks in mitigating short-term underwriting concerns and minimising policy exceptions on commercial loans. The company’s industry-agnostic platform is particularly beneficial to community banks in rural and urban underserved areas, enabling them to close more deals efficiently and bolster local economies through quality lending.
The newly acquired funds are earmarked for enhancing CollateralEdge’s proprietary Portal technology, which automates the entire loan process, delivering high-quality collateral enhancement solutions directly to banks. This innovation allows banks to maintain autonomy over the loan process and customer relationships.
CollateralEdge, co-founded by Joe Beard and Joe Radtke amidst the COVID-19 pandemic in 2020, has since been on an upward trajectory. The company prides itself on being minority and veteran-founded, with leadership bringing over four decades of experience in investment banking, private equity, and entrepreneurship.
John Pantalena, Partner at Phalanx Impact Partners, echoed this sentiment, stating, “CollateralEdge’s vision deeply resonated with our belief that expanded access to credit can transform communities. In a financial landscape where middle-market capital is disproportionally allocated to private equity owned businesses in a narrow range of target industries, CollateralEdge stands out as a unique solution-driven value proposition. We believe that they will be able grow both by being a valued partner to middle-market lending institutions and by expanding the number of participants in the yield products that they are creating through their platform.”
Joe Beard, Co-Founder of CollateralEdge, expressed his vision for the company, saying, “We are not just building a company; we are constructing a bridge to financial inclusion for small businesses, especially those in underserved communities who need it the most.
“Our collaboration with Phalanx Impact Partners is a testament to our shared belief in the economic backbone of the country small businesses. Together, we empower community banks to extend competitive credit offers to small and middle market businesses which are the key drivers of economic development in this country.”
Surfboard Payments partners with Worldline to revolutionise Nordic payment solutions
This strategic partnership aims to combine Surfboard Payments’ innovative payment solutions with Worldline’s comprehensive expertise in acquiring, processing, and fraud prevention. The collaboration is designed to offer a wide range of payment options and services to businesses across the Nordics, enhancing their payment systems and customer experiences.
Surfboard Payments develops an acquiring platform for card present payments, including SoftPOS and API-based payment terminals. Its solution ensures agile development, minimal dependencies, and control over IP. The company’s offerings are directed towards ISVs and payment partners who aim to disrupt in-store experiences with better value for merchants and consumers.
Worldline, on the other hand, is a technology partner for merchants, banks, and acquirers. With a workforce of 18,000, it provides in-store and online card acquiring, secure payment transaction processing, and a variety of digital services.
The partnership initially focuses on Sweden, Norway, Denmark, and Finland, with potential expansion to other markets. It features Surfboard Payments’ suite of payment terminals like SurfPad, SurfTouch, SurfPrint, CheckoutX, and SoftPOS solutions. These will be integrated into Worldline’s merchant and partner offerings. Additionally, all hardware will be delivered by Surfboard Payments’ SurfShip API first platform, including next-day delivery within the Nordics.
The strategic alliance between Surfboard Payments and Worldline signifies a major advancement in the payment sector, aiming to boost business efficiency, security, and customer satisfaction with innovative solutions.
Worldline Head of Strategy & GTM Merchant Services RB Nordics, Filippa Marklund said, “We are thrilled to embark on this transformative partnership with Surfboard Payments. Surfboard Payments’ innovative payment solutions perfectly complement our existing portfolio, enabling us to provide businesses with a competitive range of payment options and services that create real value for the merchants.”
Surfboard Payments CEO, Christopher Lindfeldt said, “We are excited to collaborate with Worldline to expand the reach of our payment solutions across the Nordics. Worldline’s established strong presence, deep understanding of the market and strong sales capabilities will be instrumental in driving our mutual success.”