WorldPay is to acquire Envoy Services Limited, a provider of alternative payment solutions to eCommerce merchants, for an undisclosed figure.
Envoy is a UK FSA-regulated global payments service, offering single point access to popular local payment and collection services worldwide. It has a global network of over 200 local bank accounts and 40 alternative payment services, as well as a fraud screening service.
“The acquisition of Envoy confirms WorldPay’s status as the leading player in global eCommerce payments and fraud prevention and signifies a renewed focus on innovation for our customers,” commented WorldPay Group CEO, Ron Kalifa.
Envoy will continue to operate its current business model once the acquisition is complete, and the existing management team will join the senior leadership of WorldPay’s eCommerce business unit.
“We are delighted to be joining the WorldPay team and see a unique window of opportunity to create a truly differentiated, market-leading proposition for global merchants,” added Envoy founder and CEO, Phillip McGriskin.
CEO of WorldPay’s eCommerce division, Floris de Kort, added: “Following this transaction, online merchants will, for the first time, be able to obtain world-class gateway, card, alternative payment, fraud prevention and other value-added services via one reliable technical connection from a payment service provider who will fully control development, customisation, quality and stability – and it will be our joint customers who set the priorities.”
The deal is expected to close in May 2011 following customary approvals.
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