AEVI International, a payment technology company, has secured new investment from Mastercard.
The financial details of the transaction were not disclosed.
With the investment, Mastercard becomes a minority stakeholder of AEVI joining other existing investors. Technology company Diebold Nixdorf will continue to hold majority stake in AEVI.
Alongside, AEVI and Mastercard Payment Gateway Services (MPGS) expanded their partnership to simplify the omnichannel shopping experience.
The collaboration will work to provide banks, acquirers, PSPs, ISOs and ISVs with easy access to payment technology.
Initially, the two companies will focus on Europe.
AEVI CEO Mike Camerling said: “The commercial relationship and equity investment between Mastercard and AEVI will help accelerate AEVI’s goal to become an industry-standard platform for face-to-face payment integration.
“AEVI will be better positioned to support all of its customers, and to pursue more market opportunities and to do so more rapidly.”
MPGS EVP Keith Douglas said: “More than ever, we see the convergence of digital and physical payment channels as a key driver in enhancing customer experience.
“We’ll look to lean into this collaboration and expanded relationship to support our shared merchant customers and partners in their efforts to grow and strengthen consumer relationships.”
AEVI provides merchant-facing businesses with a platform to ensure easy access to any payment technology.
The company operates across Europe, Australia, and the Americas.