MYPINPAD, a mobile-based payments acceptance and digital authentication solution, has merged with payments and agency banking solution SmartPesa.
This combined company will operate under the MYPINPAD brand.
They claim customers will get greater scale, wider product offering and continued support as the industry moves towards the PCI Security Standards Council’s forthcoming Mobile Payments on COTS (MPoC) Standard.
It also stated the deal will position MYPINPAD as a leading global provider in the mobile payment acceptance market. The combined position will double its existing footprint in APAC, LATAM and EMEA. The company will target North America in 2022.
Speaking on the merge, MYPINPAD CEO Richard Forlee said, “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.”
Also speaking on the deal, SmartPesa founder and executive chairman Barry Levett said, “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.”
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