Source: Allied Wallet
Allied Wallet, Inc. (“Allied Wallet”) announced today that it has engaged BofA Merrill Lynch to act as its financial advisor in connection with its exploration of potential strategic opportunities including a private placement or an initial public offering in 2016.
Allied Wallet is a global customized payment solution provider that is world-renowned as a “one-stop shop” that consolidates state-of-the-art payment solutions, enabling businesses of all sizes to implement one payment solution for all their payment processing needs.
Allied Wallet is able to process transactions in 164 currencies and settle funds straight into a merchant's bank account. Allied Wallet offers affordable and international online payment solutions, mobile point-of-sale solutions, prepaid card solutions, digital wallet solutions, and chargeback/fraud solutions all under one account.
By simplifying multi-currency, international transactions, Allied Wallet streamlines payment solutions and statistically prevents risk losses to under 1% for international merchants.
Allied Wallet has seen exponential growth over the years both domestically and internationally, and has repeatedly ranked on the INC 500 and Los Angeles Business Journal Fastest Growing Companies Lists over the past five years.
With over 125 million users globally, Allied Wallet's “one-stop shop” model is able to simplify payment processing for international merchants and customers, and offer the services of many competitors on a single platform, under one company.
“We're very excited to move forward with BofA Merrill Lynch as our lead financial advisor,” said CEO Andy Khawaja. “We are a global provider of next generation payment solutions that effectively competes with leading global payments businesses such as PayPal, Square, Stripe and CyberSource. Our diversified solutions offered through a single, multi-channel platform make it easier for merchants to seamlessly manage their payments globally. With BofA Merrill Lynch as our lead financial advisor, we're looking forward to taking Allied Wallet to the next stage of growth, scale and payments leadership for the company.”