US-based finance powerhouse PaymentCloud has bought a majority stake in the contactless payments technology startup Paysley, following extended discussions.
The financial details of the transaction are yet to be divulged.
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The acquisition allows PaymentCloud to combine its payment processing capabilities with Paysley’s contactless payment functionality.
Paysley aims to transform any business owner’s smartphone into a point-of-sale (POS) device, without needing to create an account.
Its personalised QR code feature allows customers to scan and pay at businesses using Apple Pay and Samsung Pay mobile wallets.
Moreover, these instantly generated codes enable one-click payment verification, simplifying curb-side pickup.
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By GlobalDataPaysley can be used for fundraising, donations, recurring rent payments, and businesses utilising text message payment requests.
Through this acquisition, Paysley’s services will now be offered nationwide via approved ISOs and MSPs.
It can be added to existing POS systems and merchant accounts or work as a standalone solution.
PaymentCloud CEO Shawn Silver said: “The future of payments is already shifting toward contactless means and now, with the acquisition of Paysley, we will be at the forefront of this shift. I’m eager to bring this innovative solution to fruition at such a pivotal time.”
Paysley founder Chris Roets added: “We are looking forward to bringing Paysley to its full potential and I am overjoyed that Shawn and his team will be the ones to do it.”
