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Visa to acquire cross-border payments expert Currencycloud
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Zip Expands into Europe and the Middle East, with the Acquisitions of European BNPL Provider Twisto and UAE-based Spotii
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Quadpay, A Zip Co.: Zip Expands into Europe and the Middle East, with the Acquisitions of European BNPL Provider Twisto and UAE-based Spotii
Zip Co Limited (ASX: Z1P) (
Zip or the
has agreed to acquire the remaining shares of European Buy Now Pay Later (
BNPL ) provider Twisto Payments a.s. (
Twisto ) and has also entered into an agreement to acquire the remaining shares
of UAE-based BNPL leader Spotii Holdings Ltd (
Spotii
The transactions align with Zip s global expansion plans and the rapidly accelerating global BNPL opportunity. As demonstrated through the acquisition of QuadPay, where annual transactions have soared by over 200% post acquisition, Zip is building its playbook in successfully identifying, completing, and integrating strategic acquisitions. Twisto and Spotii are now well-positioned to leverage the benefits of this competency and the synergies of a truly global payments organisation. Twisto and Spotii are integrated into Zip s global Single Merchant
Currencycloud strives to make complex payments seamless
All money transfers are not created equal, Currencycloud CEO Mike Laven said.
Currencycloud connects businesses to the global economy via a suite of currency conversion and APIs. Since 2012 Currencycloud has handled more than $25 billion of transactions to more than 200 countries.
Mr. Laven said Currencycloud clients are other payment firms or other institutions needing to make payments. Those payments are a lot more complex than most consumer transactions where someone sends $100 to mom and gets a text back saying the transaction is complete.
CEO Mike Laven
“The world of business is different,” Mr. Laven said. “Paying clients becomes key.”
Britain sets out blueprint to keep fintech ‘crown’ after Brexit
Brexit, COVID-19 and overseas competition are challenging fintech’s future in Britain and the country should act to stay competitive, a government-backed review said.
Britain’s departure from the European Union has cut the fintech industry’s access to the world’s biggest single market, making the UK less attractive for fintechs wanting to expand cross-border.
The review headed by Ron Kalifa, former CEO of payments fintech Worldpay, sets out a “strategy and delivery model” that includes a new billion pound start-up fund and fast-tracking work visas for hiring the best talent globally.
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