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Visa acquires payment gateway software provider Payworks

Visa has acquired German point of sale (POS) payment gateway software provider Payworks for an undisclosed amount.

The acquisition follows a strategic investment by Visa in Payworks last year.

Visa global head of digital merchant products Carleigh Jaques said: “For the past two years, we have partnered closely with Payworks to deliver cutting-edge integrated commerce solutions for CyberSource’s clients worldwide.

“As these solutions become mainstream, aligning more closely with Payworks and combining our businesses is a natural extension of our relationship.

“Payworks has built a state-of-the art software technology and an impressive client base. We are thrilled to welcome the strong and talented team to our family.”

Following the deal, Visa will integrate Payworks’ cloud-based solution for in-store payment processing with its CyberSource digital payment management platform.

The integration will provide the merchants, acquirers and payment service providers with an omnichannel payment management platform. It will also enable Visa’s merchant and acquirer clients to support face-to-face transactions through various POS terminal types.

Additionally, Visa’s merchant and acquirer clients can use Payworks’ automated solutions to configure POS offerings and terminals. It will enable the merchants to accept face-to-face and online electronic payments, through a single integration to CyberSource.

Payworks co-founder and CEO Christian Deger said: “By combining our POS technology with CyberSource’s digital commerce capabilities, we can bring our joint solution to merchants and acquirers across the globe at an accelerated pace.

“We are excited about joining the Visa family and integrating our capabilities to deliver innovative, differentiated integrated-commerce solutions.”

Last month, Visa signed an agreement to buy the token services and ticketing businesses of Rambus. It will leverage Rambus’ account tokenisation technology to secure commercial payments.

Recently, the payments major also acquired payment dispute resolution tools provider Verifi.

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