Valitor, a global leader in Fintech banking services provision has announced the acquisition of International Payment Services, IPS ltd, a UK based leading secure payment solutions provider with immediate effect.
The acquisition will see the consolidation of IPS's powerful technology into Valitor's own e-commerce solution, through its subsidiary AltaPay, one of Europe's most innovative online, mobile and point of sale payment companies.
As a result of this acquisition, Valitor's and AltaPay's customer base will now benefit from one global payment provider to streamline all online, mobile and in-store payments and provide a complete omni-channel payment solution.
This omni-channel solution gives customers a full overview of all transactions and allows them to implement the same type of terminals across outlets in all countries with fully automated financial reconciliation. Crucially the solution helps merchants dramatically reduce both the cost and scope of achieving PCI DSS Compliance.
Commenting on the deal Valitor CEO, Vidar Thorkelsson said, "This acquisition is an important strategic move for Valitor. The rapid expansion of Fintech based solutions in the mobile, online and point of sale sector means that to stay ahead of our competitors we need to continue to offer our customers and partners the best possible technology and services. The acquisition strengthens Valitor's leading position in the marketplace."
"The wealth and experience that IPS will now bring to Valitor is significant and will enhance Valitor's already strong reputation in the payment provision sector," concluded Thorkelsson.
The terms of the acquisition have not been released.