First Data (NYSE: FDC), a global leader in commerce-enabling technology and solutions, today announced that it has acquired ayCash, a German-based provider of cashless payment terminals and digital merchant services.
Founded in 2008 by Hans Hezel, ayCash operates well-known digital properties, YesCash and Cash4Less, and offers technical solutions for Girocard and credit card acceptance to DACH-based merchants. Its services include the ability for businesses to buy or rent high-speed card acceptance terminals (stationary and wireless) as well as support for dispatch, installation and maintenance.
“I’m extremely enthusiastic about this deal as it will be tremendously positive for both companies,” said Hans Hezel, Founder of ayCash. “As part of First Data we will be able to further improve our products and services and therefore grow our customer base in Germany, Austria and Switzerland.”
“ayCash has a growing client base, serving the increased demand for cashless technology in Germany and the region,” said Jörg Brand, General Manager, DACH at First Data.
“We continue to see strong growth in Germany and are committed to continuing to serve our customers in the region today and into the future,” said John Gibbons, Executive Vice President, Head of EMEA & Co-Head of Global Financial Solutions at First Data. “In fact, according one of our recent surveys of cashless trends in Germany, we revealed that as many as 54% of German consumers expect cash to become obsolete in as little as a few years.”