ING: to take majority stake in Dutch payment processor
(CercleFinance.com) - ING said on Monday that it has reached an agreement to acquire a 75% stake in Payvision, a Dutch payment transaction processor having a total value of 360 million euros.
The Dutch financial services firm said the transaction will strengthen its position in omni-channel payments services and expand in the fast-growing e-commerce segment.
"The payments sector is one of the most dynamic areas of the financial services industry," ING CEO Ralph Hamers said.
"Payvision (...) has developed a great business with a proven technology in an area where ING wants to grow," he added.
Founded in 2002, Payvision facilitates payment methods, including Visa, iDEAL, Alipay, JCB and Union Pay by offering banks and merchants a single acquiring platform.
The transaction is expected to be closed in the first quarter of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Dutch financial services firm said the transaction will strengthen its position in omni-channel payments services and expand in the fast-growing e-commerce segment.
"The payments sector is one of the most dynamic areas of the financial services industry," ING CEO Ralph Hamers said.
"Payvision (...) has developed a great business with a proven technology in an area where ING wants to grow," he added.
Founded in 2002, Payvision facilitates payment methods, including Visa, iDEAL, Alipay, JCB and Union Pay by offering banks and merchants a single acquiring platform.
The transaction is expected to be closed in the first quarter of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.