Rapyd Icelandbased 100mfaridi: In a recent report, financial services company Rapyd announced that it had inked a deal to acquire Iceland-based Valitor, which develops in-store and online payments technologies, for $100M. With the acquisition, Rapyd will be able to develop an omni-channel platform that is designed to accommodate payment methods such as Bitcoin and blockchain. Valitor’s technology “will help the company enhance its own products and services. Valitor’s technology will help Rapyd to enhance its own products and services.”
According to the company’s announcement, the deal has been finalized, completed and closed on April 6th.
The deal is being made in Rapyd’s effort to transform payments through blockchain technology. According to the press release, Valitor’s technology will help Rapyd enhance its own products and services. Valitor’s technology will help Rapyd “to enhance their offerings,” the company said in a statement.
Valitor provides payment market solutions for retail and e-commerce which enable consumers to pay by card, cash, mobile and digital wallets and NFC devices at more than 5.5 million merchants around the world.
According to the company, Valitor has “well over 5,000 businesses on its platform which serve more than 100 million consumers.” Additionally, the company has over 1.5 million registered merchants and 2 million transactions per day.
The company’s president and CEO, Vilhjálmur Árnason said in a statement: “Rapyd’s technology will accelerate our strategy to combine leading consumer-first value-added services with superior technology solutions. Complementing our strong product development and technological capabilities, the Valitor team will bolster our product and technology offerings. In addition, leveraging the Valitor team’s deep understanding of card associations, we expect this transaction to result in new payment solutions designed specifically for merchants.”
Rapyd offers a platform for fintech services which enable consumers to pay with cards, cash and digital wallets and NFC devices at more than 5.5 million merchants around the world. The company has developed its own payment solutions, including the ability to pay with cryptocurrencies.
The CEO of Rapyd, Colin O’Flaherty said in a statement: “Our vision is to radically transform payments with blockchain technology and the addition of Valitor’s technology will greatly enhance our ability to bring blockchain-based payments solutions to our entire customer base.”
The deal has been finalized and closed on April 6th. The company has not disclosed the financial details of how much of the deal it will pay for.
