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July 20, 2018

Payscout acquires payment technology provider Paywire

Payment processing provider Payscout has acquired Paywire, a US-based cloud and mobile software solutions provider that enables integration with third party applications and systems.

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The acquisition, part of Payscout’s expansion plan, will integrate Paywire technology, including its applications in the Epic App Orchard marketplace, with the Payscout suite.

The deal will expand Payscout’s customer base as well as allow the firm to provide new payment processing technologies including Paywire’s solutions for education and healthcare industries.

Paywire tools are said to be designed to increase transaction security and enable compliance with existing regulations.

Payscout CEO and co-founder Cleveland Brown said: “Paywire’s entrepreneurial spirit and cutting-edge payment technologies are a natural fit for Payscout’s innovative culture.

“Their products mesh perfectly with our suite of virtual reality commerce and mobile payment processing solutions.”

Payscout financed the acquisition in partnership with banking major HSBC, which is expected to fund the company’s future acquisitions and partnerships.

Paywire president and founder Eric Schuler said: “We’re eager to join forces with Payscout, a visionary and powerful player in the payments space. I can’t think of a better home for our suite of solutions and look forward to watching this combined company become an even more formidable player in the payment processing space.”

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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