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October 24, 2019

Berkeley acquires Pungle payments platform

Berkeley Payment Solutions has acquired a payments platform called Pungle that facilitates real-time transfers.

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Financial terms of the transaction were not disclosed.

Through the Pungle platform, businesses and consumers can make real-time transactions through a bank account, prepaid card and credit card.

Pungle CEO Paul Birkness said: “Our mission has been to remove friction from payments. By joining forces with Berkeley, it allows us to provide our customers with a more robust feature set, broader capabilities and global reach.”

The acquisition will provide Berkeley’s clients with additional payment choices.

Berkeley CEO and founder Jonathon Hamburg said: “This acquisition positions Berkeley to be one of the most innovative, fastest-growing FinTech companies globally.

“We are thrilled to join forces and welcome the Pungle team to our fold, as this will allow us to continue to innovate and build impactful payment technology platforms.”

As part of the deal, Pungle founders Paul Birkness and Braulio Lam will join Berkeley’s executive team as chief product officer and chief technology officer, respectively.

Berkeley president Lawrence Tepperman said: “What attracted Berkeley executives to Pungle was Pungle’s industry-leading technology platform, and its robust innovation and development.

“Berkeley will be able to offer more than 800,000 current users access to world-class, scalable and reliable digital payment solutions.”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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