Paysafe Group, a global Payments provider, announced on Monday that it had completed the acquisition of viafintech, a German fintech company known under the brand viacash. According to the press release, Paysafe seeks to expand in critical markets via the payments infrastructures offered by viafintech across Europe and globally.
That said, the integration process will begin with the viafintech’s management team becoming part of Paysafe’s expanding eCash solutions team led by Udo Müller. The announcement noted that Sebastian Seifert, Achim Bönsch and Andreas Veller, viafintech’s Managing Directors, join Paysafe’s team. “This is a very exciting acquisition for Paysafe. By combining viafintech’s leading payment solutions with our own eCash and alternative payment portfolio, we are very well positioned as an essential payments partner to challenger banks around the world. This comes at a crucial point in time as we experience a consumer shift away from the legacy banking system and more and more challenger banks are entering the market and offering mobile-based solutions for banking and payments,” Udo Müller, CEO of Paysafe’s eCash division, commented on the matter.
Paysafe and Kraken
Founded in 2011 and with headquarters in Berlin, the German fintech company offers a ‘mobile ATM’ concept that enables consumers to arrange deposits or withdraw cash from their digital bank accounts using a barcode at a nearby retail store. “Becoming part of the Paysafe Group will help us to build on our business achievements to date and accelerate our future growth as Europe’s number one, non-banking, cash-in/cash-out infrastructure. We are excited to be starting this next chapter and doubling our efforts to strengthen financial inclusion and shift away from legacy banking,” Sebastian Seifert, Co-Founder and Managing Director of viafintech, said.
Last year, Paysafe onboarded the US-based exchange, Kraken to participate in its network of cryptocurrency Liquidity providers. This collaboration backs Paysafe’s own crypto buy and sell services where Skrill and Neteller clients can buy, sell and spend crypto-assets through their accounts.
