Spire Payments has expanded to Middle East and Africa with the acquisition of the Electronic Funds Transfer (EFT) division of STS, a POS payment device and associated service provider in the Middle East.
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Spire Payments believes that the acquisition will enable the company to leverage the customer-centric expertise of STS’s EFT unit, which has been a Master Distributor for Hypercom in the region.
With its headquarters in Dubai, the MEA centre of Spire Payments will include a POS application development division and a fully equipped terminal repair facility in Jordan together with secure warehousing for all Spire Payments customers within the region.
Kazem Aminaee, CEO and president of Spire Payments, said: "This acquisition is yet another decisive step in our drive to deliver our global payment strategy and to accelerate our revenue growth.
"STS and Spire Payments will work together to ensure continuity with existing installations and a platform to welcome all new customers. We see MEA as one of the most promising regions for growth and innovation and this is a truly exciting day for both STS and Spire."
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By GlobalData
