Paysafe snaps up Berlin’s viafintech in all cash deal

Just a week after acquiring US-based SafetyPay, London’s Paysafe has entered an agreement to acquire viafintech. According to the Berlin-based startup, they offer the largest, bank-independent, payments infrastructure in the DACH region. A figure was not disclosed, however, the deal is reported to be an all-cash transaction.

Founded in 2011, viafintech offers a “mobile ATM” service that allows consumers to deposit and/or withdraw cash from any one of it’s 20,0000 partnered retail stores via a barcode. In addition to this service, naturally, bill payments, credit payouts, and general shopping purchases can be made.

Active in Germany and five additional European markets, the acquisition of viafintech will give Paysafe a strong foothold in a market critical for international merchants, as well as cross-selling, and revenue-generating, opportunities.

“We are very excited to welcome a star player like viafintech into the Paysafe family. We believe the team are perfectly positioned to take advantage of the shift away from the legacy banking system in Germany and beyond as more and more challenger banks enter the market and consumers opt to use mobile-based solutions for banking and payments,” commented Paysage CEO Udo Müller. “By combining viafintech’s leading solutions with our existing eCash and APM portfolio, we are well positioned as an essential payments partner to challenger banks around the world as consumer banking habits continue to evolve.”