Latest news with #PayFac
Yahoo
24-04-2025
- Business
- Yahoo
Fiserv to take over Brazilian fintech Money Money
Fintech and payments company Fiserv has signed a definitive agreement to buy Brazilian fintech firm Money Money Servicos Financeiros. This acquisition is expected to extend Fiserv's offerings in the Brazilian market, supporting small and medium-sized businesses (SMBs). The acquisition is contingent on standard closing conditions including regulatory clearances, with completion anticipated in the second quarter of 2025. Money Money has developed a specialised financing engine that interfaces with the receivables registry system overseen by the Brazil Central Bank. This technology enables the provision of working capital and other financial solutions to SMBs, based on a detailed analysis of each business. The acquisition is intended to support Clover's strategy, which is aimed at aiding the growth of Brazilian businesses by addressing their payment processing, business management, and cash flow challenges. 'Clover Capital fuelled by Money Money will be integrated with the Clover platform,' Fiserv said in a statement. This will involve leveraging risk analysis technology alongside predictive analytics of client business performance to tailor financial offerings with 'competitive' terms. The service will offer advances to businesses, with repayment plans secured against future sales receivables. Launched in Brazil in December, Clover delivers a payment solution, cash flow support, and a suite of native applications. It also provides a marketplace featuring tools and systems from Fiserv's network of independent software vendors (ISVs). Fiserv Brazil general manager Jorge Valdivia said: "By adding this service to our portfolio, we take an important step to boost the growth of our acquiring clients, facilitating their access to the necessary resources to invest in improvements and processes. Our continued investment in the Brazilian market demonstrates our commitment to advance our clients' business objectives by expanding our local capabilities.' Earlier in the month, Fiserv acquired Pinch Payments, an Australian payment facilitator that operates the PayFac enablement platform "Glassbox" and serves a merchant base in Australia and New Zealand. "Fiserv to take over Brazilian fintech Money Money " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
Fiserv to take over Brazilian fintech Money Money
Fintech and payments company Fiserv has signed a definitive agreement to buy Brazilian fintech firm Money Money Servicos Financeiros. This acquisition is expected to extend Fiserv's offerings in the Brazilian market, supporting small and medium-sized businesses (SMBs). The acquisition is contingent on standard closing conditions including regulatory clearances, with completion anticipated in the second quarter of 2025. Money Money has developed a specialised financing engine that interfaces with the receivables registry system overseen by the Brazil Central Bank. This technology enables the provision of working capital and other financial solutions to SMBs, based on a detailed analysis of each business. The acquisition is intended to support Clover's strategy, which is aimed at aiding the growth of Brazilian businesses by addressing their payment processing, business management, and cash flow challenges. 'Clover Capital fuelled by Money Money will be integrated with the Clover platform,' Fiserv said in a statement. This will involve leveraging risk analysis technology alongside predictive analytics of client business performance to tailor financial offerings with 'competitive' terms. The service will offer advances to businesses, with repayment plans secured against future sales receivables. Launched in Brazil in December, Clover delivers a payment solution, cash flow support, and a suite of native applications. It also provides a marketplace featuring tools and systems from Fiserv's network of independent software vendors (ISVs). Fiserv Brazil general manager Jorge Valdivia said: "By adding this service to our portfolio, we take an important step to boost the growth of our acquiring clients, facilitating their access to the necessary resources to invest in improvements and processes. Our continued investment in the Brazilian market demonstrates our commitment to advance our clients' business objectives by expanding our local capabilities.' Earlier in the month, Fiserv acquired Pinch Payments, an Australian payment facilitator that operates the PayFac enablement platform "Glassbox" and serves a merchant base in Australia and New Zealand. "Fiserv to take over Brazilian fintech Money Money " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
24-04-2025
- Business
- Zawya
Cross Switch Solidifies Market Position with New Payment Licence in South Africa
Cross Switch ( a leading provider of innovative payment solutions, has reached a significant milestone by securing its own Third-Party Payment Processor (TPPP) licence. The TPPP, issued by the Payments Association of South Africa (PASA) and sponsored by Absa, is a regulatory status that strengthens Cross Switch's position in the payments ecosystem. This achievement complements Cross Switch's recent certification as a Visa Payment Facilitator (PayFac). Cross Switch brings a highly flexible payment platform ( to South Africa, enabling business scalability and growth. The company can now independently onboard merchants, fintechs and charities, substantially enhancing its service offering and announcing itself as an essential player in the South African payments landscape. By obtaining an all-important TPPP licence, Cross Switch has reinforced its commitment to delivering quality, compliant and flexible payment solutions tailored specifically for South Africa's private and charitable sectors. Cross Switch's entry as a licensed provider brings an adaptable API that allows South African merchants to transact seamlessly on the African continent, including in key markets such as South Africa, Kenya, Morocco and Ivory Coast. For merchants looking to expand into Latin America, Cross Switch also offers Argentina, Brazil, Mexico and Chile — with new countries, both in Africa and in other emerging markets, to be announced very soon! 'This is a vital step in expanding our network and strengthening our presence across the continent,' said Mark Chirnside, CEO of Africa, Cross Switch. 'By enabling local merchants with multiple payment options, we're empowering African businesses with the tools to reach broader markets and unlock growth opportunities.' Cross Switch now enables South African businesses to confidently target rapid expansion and deeper market penetration through frictionless access to local and international payment methods via its flexible API (CS+). The single API empowers merchants to accept payments across Africa and LATAM, and accept the local payment methods. Cross Switch's immediate future in South Africa involves accelerating merchant onboarding. Contracts already signed represent a client base exceeding 1,000 merchants in South Africa. To complement over 1,000 merchants already using CS+ on the Continent. Securing this licensing is a significant step forward in the Cross Switch journey. The company strives to realise its vision of delivering modern payment solutions that meet the varied needs of merchants and non-profits. The company's highly flexible payment platform drives financial inclusion and business scalability. The company is also committed to expanding rapidly, enhancing its payment methods, and integrating advanced reconciliation engines — all underpinned by rigorous fraud prevention and risk management systems. 'Investing in South Africa is a strategic priority for Cross Switch,' said Tim Davis, Group CEO of Cross Switch. 'We're resourcing up locally to ensure we're ready to meet growing demand, and this licence and certification enable us to deliver world-class payment services that are both agile and scalable.' Cross Switch invites businesses interested in exploring robust and flexible payment solutions to connect directly at to learn how its tailored offerings can support and amplify their operational ambitions. Distributed by APO Group on behalf of Cross Switch. Contact South Africa: (+27) 21 205 5818 Luxembourg: (+352) 2088 1454 About Cross Switch: Cross Switch is a payments technology company founded in 2022, operating across emerging markets, with active operations in South Africa, Kenya, Morocco, Ivory Coast and across Latin America. It provides flexible, secure and scalable solutions that support both local and cross-border transactions, helping merchants, fintechs and non-profits expand their reach and streamline their operations. Cross Switch is committed to driving financial inclusion and growth through collaboration, robust infrastructure, high service levels and a strong focus on emerging market needs.
Associated Press
04-03-2025
- Business
- Associated Press
OLB Group Introduces a New Payment Facilitator (PayFac) Service for Small Businesses
NEW YORK CITY, NY / ACCESS Newswire / March 4, 2025 / OLB Group, Inc. (NASDAQ:OLB) ('OLB' or the 'Company'), a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise, OLB Group announced today the launch of a new payment facilitator (PayFac) service for small businesses. Ronny Yakov, CEO of OLB Group, said, 'We are excited to announce the launch of our innovative Payment Facilitator (PayFac) service designed specifically for small businesses. This cutting-edge solution revolutionizes the way small enterprises process payments, offering a host of benefits that will streamline operations and boost business growth.' Key Benefits for Small Businesses Rapid Onboarding and Instant Acceptance OLB Group's PayFac service enables small businesses to start accepting payments immediately, with a streamlined onboarding process that can be completed in a matter of hours. This feature eliminates the traditional wait times of days or weeks associated with setting up a merchant account. Simplified Compliance and Reduced Paperwork By leveraging OLB Group's PayFac service, small businesses can significantly reduce their compliance burden. PayFac handles complex regulatory requirements, allowing entrepreneurs to focus on growing their business rather than navigating payment industry regulations. Comprehensive Payment Options The PayFac service supports a wide range of payment methods, including all major card networks, ACH, and even Electronic Bill Pay and RTP (Real Time Payment). This versatility ensures that small businesses can cater to diverse customer preferences, potentially increasing sales and improving customer satisfaction. Enhanced Security and Fraud Prevention Small businesses benefit from PayFac's integrated fraud prevention tools and chargeback management services. This robust security infrastructure protects both merchants and their customers, fostering trust and reducing financial risks. Cost-Effective Solution OLB Group's PayFac service offers a transparent, easy-to-understand fee structure, eliminating surprise charges and helping small businesses manage their budgets more effectively. Empowering Small Business Growth By providing access to enterprise-level payment processing capabilities, the PayFac service levels the playing field for small businesses. It enables merchants to compete effectively in the digital marketplace, expand their customer base, and focus on what they do best - running their business. For more information about OLB Group's new Payment Facilitator service and how it can benefit your small business, please contact our sales team or visit our website. Small convenience stores and bodegas can significantly benefit from the PayFac (Payment Facilitator) model in several ways: Simplified Onboarding The PayFac model streamlines the merchant application process, allowing small businesses to start accepting payments quickly. This means convenience stores and bodegas can begin processing electronic payments within hours, rather than waiting days or weeks for traditional merchant account approvals. Reduced Complexity PayFact handles underwriting, compliance, and risk management, reducing the burden on small businesses. This capability allows store owners to focus on their core business operations instead of worrying about complex payment processing regulations. Integrated Services PayFact often provides additional value-added services such as fraud prevention, chargeback management, and payment analytics. These productivity tools can help small stores better manage their finances and protect against potential losses. Multiple Payment Methods The PayFac model offers flexibility in accepting various payment methods, including credit cards, digital payments, and alternative payment options. This versatility is crucial for convenience stores and bodegas to cater to diverse customer preferences. Enhanced Customer Experience By simplifying the payment process, PayFact contributes to a smoother transaction experience for customers, leading to increased customer satisfaction and loyalty, which is vital for small neighborhood stores. Lower Entry Barriers The PayFac model makes it easier for small and micro-merchants, who might have been underserved by traditional payment systems, to access electronic payment processing which levels the playing field for smaller stores competing with larger retailers. By leveraging these benefits, convenience stores and bodegas can improve their operations, enhance customer service, and potentially increase their revenue through more efficient payment processing. The payment facilitator (PayFac) model offers several key benefits to small businesses and bodegas: Quick onboarding: PayFac provides a streamlined, simplified onboarding process that can be completed in hours or days, allowing small businesses to start accepting payments almost immediately. Reduced paperwork and compliance burden: As sub-merchants under a PayFac, small businesses face fewer compliance regulations and documentation requirements compared to traditional merchant accounts. Lower risk: PayFac assumes most of the financial risk, reducing the burden on small businesses. PCI compliance handling: PayFac manages PCI compliance, relieving small businesses of this complex responsibility1. Improved cash flow: PayFac often offers faster fund settlement, allowing small businesses to access their money more quickly. Access to diverse payment methods: PayFac enables small businesses to accept various payment types, including credit cards, digital wallets, and ACH transfers, improving customer satisfaction. Enhanced fraud protection: PayFac typically provides robust fraud detection and prevention measures, offering small businesses greater security. Simplified support: With a PayFac, small businesses have a single point of contact for payment-related issues, streamlining problem resolution. PayFac benefits are particularly advantageous for small businesses and bodegas, as they reduce barriers to entry in accepting electronic payments, minimize operational complexities, and provide access to sophisticated payment technologies that might otherwise be out of reach. Advantages of PayFac for OLB Group and its subsidiaries For Bodega owners, the merchant services OLB Group offers to customers, the most beneficial products are the MOOLA Cloud brands, such as and BlackWireless. Including recently announced the services for 3D Secure fraud preventing tools These services are particularly advantageous for digital downloads and eSIMs, which have often been associated with fraudulent transactions on digital product orders. MOOLA Cloud offers an innovative and proprietary solution for the unbanked and under-banked consumer sector serviced by bodegas and convenience stores in the region. With a scheduled market launch in the First Quarter of 2025, OLB Group will dramatically expand its merchant services offerings. About OLB Group, Inc. The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise. The Company's eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to merchants in all 50 states. In addition, through its ownership of the MOOLA Cloud and Black 011 platform, OLB Group can provide its services to an additional network of 31,600 convenient stores and bodegas in the United States. DMint, a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin in a facility in Tennessee utilizing sustainable hydroelectric and solar power. Forward-Looking Statements This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company's current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding the proposed spinoff of DMint described herein and are characterized by future or conditional words such as 'may,' 'will,' 'expect,' 'intend,' 'anticipate,' 'believe,' 'estimate' and 'continue' or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the licensee understands and complies with various banking laws and regulations that may impact the licensee's ability to process transactions. For example, federal money laundering statutes and Bank Secrecy Act regulations discourage financial institutions from working with operators of certain industries - particularly industries with heightened cash reporting obligations and restrictions - as a result of which, banks may refuse to process certain payments and/or require onerous reporting obligations by payment processors to avoid compliance risk. These and other risk factors affecting the Company are discussed in detail in the Company's periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether because of the latest information, future events or otherwise, except to the extent required by applicable laws Contacts (212) 278-0900 Ext. 333
