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April 20, 2022

MYPINPAD signs deal to combine with Singapore’s SmartPesa

MYPINPAD, a UK-based mobile-based payments authentication solutions provider, has brokered a deal to combine with SmartPesa.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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by GlobalData
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Financial terms of the deal were not disclosed.

Singapore-headquartered SmartPesa specialises in developing payments and agency banking solutions for merchants and banks globally.

The combined entity, which will operate under the MYPINPAD brand, is expected to become a ‘global leader in the mobile payments acceptance’ segment.

It aims to double its existing footprint in APAC, LATAM and EMEA regions and expand into North America in 2022.

The deal comes at a time when the industry prepares for PCI Security Standards Council’s forthcoming Mobile Payments on COTS (MPoC) Standard.

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.”

SmartPesa executive chairman and founder Barry Levett added: “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.”

In 2020, MYPINPAD secured Visa Ready certification for its Tap to Phone mPOS solution that offered optional PIN capture for Android devices

The same year, the firm teamed up with EVO Payments to accelerate tap to phone technology for businesses across Europe.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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