Paysafe Plots European Expansion with viafintech Acquisition

London-based payments platform completes its acquisition of German fintech firm. Financial details have not been disclosed.

London-based payments platform Paysafe has European aspirations with the completed acquisition of German fintech company viafintech. 

The deal was first announced in August and financial details have not been disclosed.

viafintech, known under the brand viacash, offers “bank-independent alternative payments” in Europe.

Udo Müller, CEO of Paysafe’s eCash division, comments: “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.”

viafintech was founded in 2011 and integrates with digital banking apps to offer a “mobile ATM” concept which enables consumers to make deposits or withdraw cash from their digital bank accounts at a nearby retail store using a barcode. Its solutions are also used for bill payments, credit pay-outs and online shopping in general – and can be used by consumers who don’t have bank accounts.

According to Paysafe, viafintech’s team, including managing directors Sebastian Seifert, Achim Bönsch and Andreas Veller, will become part of Paysafe’s eCash solutions’ team. Berlin-based viafintech has 90 employees listed on LinkedIn.

Paysafe was established in 1996 and had an annualised transactional volume of $100 billion (£73 billion) in 2020. It operates in various industries – such as healthcare, education, property management and sports.

The firm has approximately 3,400 employees located in 12+ global locations. Office locations include Sofia, Dublin, Vienna, Montreal, Houston and Hyderabad.

viafintech has a presence in five other European countries where it is known under the brands of Barzahlen/viacash (in Germany and Austria), and viacash (in Switzerland, Italy, Greece and Spain). It operates via a network of 20,000 points of sale with over 20 retail partners. It also has relationships in the banking, bill payments and e-commerce industries.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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