ING further invests in payments business with acquisition of majority stake in Payvision
29 Gennaio 2018 - 08:00AM
ING has reached an agreement to acquire a 75%
stake in Payvision, a fast-growing, leading international
omnichannel payments service provider. Payvision has a total value
of EUR 360 million. The transaction will enable ING to strengthen
its footprint in omnichannel payments services and expand its
merchant services for its business customers, in particular in the
fast-growing e-commerce segment.
The transaction with Payvision is the latest
investment in innovative financial services to support ING's Think
Forward strategy. Customers will strongly benefit from Payvision's
omnichannel payments platform complemented by ING's lending and
working capital solutions and its worldwide distribution
network.
By offering Payvision's solution, our business
customers will be able to accept payments through any channel,
including in store terminals and web shops and through any device.
Payvision's platform facilitates more than 80 payment methods,
including Maestro, Visa, iDEAL, Alipay, JCB and Union Pay
across more than 150 currencies. Consumers can benefit from
increased choice in payment solutions and a convenient, seamless
and uniform shopping experience.
Ralph Hamers, CEO of ING said: "The payments
sector is one of the most dynamic areas of the financial services
industry. In order to stay a step ahead, ING has to constantly
innovate. We do that by starting up our own ventures and by
strategically taking minority or majority stakes. Payvision's
founding team has developed a great business with a proven
technology in an area where ING wants to grow. We are confident our
customers will strongly benefit from this investment."
Payvision is a fast-growing, independent
international card acquirer and payments platform, connecting
payment service providers and their global merchants. Founded
in 2002 in the Netherlands, it serves its clients from offices in
10 cities in the US, Europe, Asia and the Pacific. In 2015
Payvision launched next-generation Payment Service Provider,
Acapture, to address the omnichannel and cross-border payments
needs of merchants.
Rudolf Booker, founder and CEO of Payvision, said:
"It's with great excitement that we're announcing the partnership
with ING today. Within 15 years of the company's inception, we feel
it's the right time to make such a strategic step to strengthen the
company's foothold in the payments industry. This investment in the
payments market, made by one of the world's most innovative
financial and banking services brands, acknowledges our vision to
deliver leading payments capabilities to support customers maximize
their revenues."
After completion of the transaction, Payvision's
founding management team will hold a 25% minority stake and will
continue to lead the company. The transaction is expected to close
in the first quarter of 2018 and is not expected to have a material
impact on ING's CET 1 ratio.
Media call
ING and Payvision will host a media call on 29
January 2018 at 11:00 a.m. CET. Journalists are welcome to join the
conference call via +31 20 531 5871 (NL) or +44 203 365 3210 (UK).
Note for editors
For further information on ING, please visit
www.ing.com. Frequent news updates can be found in the Newsroom or
via the @ING_news Twitter feed. Photos of ING operations, buildings
and its executives are available for download at Flickr. Footage
(B-roll) of ING is available via ing.yourmediakit.com or can be
requested by emailing info@yourmediakit.com. ING presentations are
available at SlideShare.
Press
enquiries |
|
Investor enquiries |
Carolien van der
Giessen |
|
ING Group Investor
Relations |
+31 20 576 6386 |
|
+31 20 576 6396 |
carolien.van.der.giessen@ing.com |
|
Investor.Relations@ing.com |
|
|
|
ING PROFILE
ING is a global financial institution with a strong European base,
offering banking services through its operating company ING Bank.
The purpose of ING Bank is empowering people to stay a step ahead
in life and in business. ING Bank's more than 51,000 employees
offer retail and wholesale banking services to customers in over 40
countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA AS,
INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING
US, ING.N).
Sustainability forms an integral part of ING's strategy, which is
evidenced by ING's ranking as 'leader' in the Banks industry group
by Sustainalytics. ING Group shares are being included in the
FTSE4Good index and in the Dow Jones Sustainability Index (Europe
and World) where ING is among the leaders in the Banks
industry group.
IMPORTANT LEGAL INFORMATION
Elements of this press release contain or may contain information
about ING Groep N.V. and/ or ING Bank N.V. within the meaning of
Article 7(1) to (4) of EU Regulation No 596/
2014.
Projects may be subject to regulatory approvals.
Certain of the statements contained herein are not historical
facts, including, without limitation, certain statements made of
future expectations and other forward-looking statements that are
based on management's current views and assumptions and involve
known and unknown risks and uncertainties that could cause actual
results, performance or events to differ materially from those
expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such
statements due to a number of factors, including, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets,
(2) changes in performance of financial markets, including
developing markets, (3) potential consequences of European
Union countries leaving the European Union or a break-up of the
euro, (4) changes in the availability of, and costs associated
with, sources of liquidity such as interbank funding, as well as
conditions in the credit and capital markets generally, including
changes in borrower and counterparty creditworthiness,
(5) changes affecting interest rate levels, (6) changes
affecting currency exchange rates, (7) changes in investor and
customer behaviour, (8) changes in general competitive
factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical
risks and policies and actions of governmental and regulatory
authorities, (11) changes in standards and interpretations
under International Financial Reporting Standards (IFRS) and
the application thereof, (12) conclusions with regard to
purchase accounting assumptions and methodologies, and other
changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
exposure, (13) changes in ownership that could affect the
future availability to us of net operating loss, net capital and
built-in loss carry forwards, (14) changes in credit ratings,
(15) the outcome of current and future legal and regulatory
proceedings, (16) ING's ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (17) the other risks and uncertainties detailed
in the most recent annual report of ING Groep N.V. (including the
Risk Factors contained therein) and ING's more recent
disclosures, including press releases, which are available on
www.ING.com. Many of those factors are beyond ING's
control.
Any forward looking statements made by or on behalf of ING speak
only as of the date they are made, and ING assumes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information or for any other reason.
This document does not constitute an offer to sell, or a
solicitation of an offer to purchase, any securities in the United
States or any other jurisdiction. |
pdf version of press
release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ING Group via Globenewswire
Grafico Azioni ING Groep NV (EU:INGA)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni ING Groep NV (EU:INGA)
Storico
Da Mar 2023 a Mar 2024