ONE of Wales’ leading fintech firms have expanded with the acquisition of a Singaporean business.
Cardiff headquartered Mypinpad, which specialises in mobile-based payments acceptance and digital authentication solutions, has acquired provider of payments and agency banking solutions SmartPesa.
The combined entity will operate under the Mypinpad brand with a workforce of more than 100.
The deal, the value of which hasn’t been disclosed, positions Mypinpad as the leading global provider in the rapidly expanding mobile payments acceptance market. The combined entity expects to double its existing footprint in Asia, Latin America, Europe, the Middle East and Africa, as it this year also targets the lucrative North American market.
Richard Forlee, chief executive of of Mypinpad said: “We’re thrilled that we can come together with SmartPesa at this time. Their experienced team and strong product capabilities will complement our existing suite of PCI (payment card indutry complaint) 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.”
Barry Levett, founder and executive chairman of SmartPesa said: “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.”
While it has embraced remote working, Mypinpad has offices at Tramshed Tech in Cardiff. It has more then five million users of its software.
