Who can resist a deal? It seems nobody in the payments industry. Hot of the JV between Equens and Worldline, ACI Worldwide and PAY.ON, a leader in e-commerce payment gateway services, announced that they have entered into a definitive transaction agreement.
Under the terms of the agreement, ACI will acquire 100% of the equity of PAY.ON in a
ACI Worldwide acquires PAY.ON
combination of cash and stock valuing the company at €180 million (approximately $200 million).
Based in Munich, Germany, PAY.ON delivers a white label global payment gateway solution to payment services providers (PSPs) and acquirers globally. PAY.ON’s solution features connectivity to more than 300 alternative payment methods and card acquirers in more than 160 countries. This global coverage helps merchants and PSPs to increase international revenues, dramatically reduce costs and risk, and accelerate market expansion.
PAY.ON’s advanced SaaS-based e-commerce gateway solution complements and strengthens ACI’s UP Retailer Payments offering, positioning ACI as a highly differentiated omni-channel payments leader. The combined ACI/PAY.ON solution provides merchants and PSPs the ability to deliver a seamless omni-channel customer payment experience in any retailer modality – in store, mobile, online – with both on premise and SaaS delivery options.
The global e-commerce market is growing rapidly, with global e-commerce volume expected to grow at a 17% CAGR through 2019. In addition, as the global e-commerce market continues its rapid ascent, the need for cross-border e-commerce payments is a particularly fast growing sector. With business and consumer demands continuing to globalise, cross-border e-commerce volume is expected to grow at an 18% CAGR over the same period.
“PAY.ON brings world-class eCommerce payment and Card Not Present (CNP) capabilities to ACI. Its SaaS-based business model, coupled with its strength in alternative payments and cross-border capabilities, allow us to expand our eCommerce platform broadly into new geographic regions,” said Phil Heasley, president and CEO, ACI Worldwide. “Our acquisition of ReD in 2014 strengthened our position as a market leader in the CNP payments risk management market, and this acquisition further solidifies our position as a leading omni-channel payments provider.”
The post ACI Worldwide acquires PAY.ON appeared first on Payments Cards & Mobile.
