ING further invests in payments business with acquisition of majority stake in Payvision
29 Gennaio 2018 - 08:01AM
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
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Press
enquiries |
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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 |
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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
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