InnoCells, the investment division of Banco Sabadell, has acquired Spanish virtual payments processor PAYTPV for an undisclosed amount.
Banco Sabadell is hoping to create a hub of services for merchants and businesses which integrates a number of different solutions. To help with this, the bank is integrating solutions offered by PAYTPV and its value-added services such as interactive voice response and its ability to personalise collection processes.
Founded in 2016, PAYTPV offers B2C and B2B businesses with digital payment processing solutions, including a virtual POS system which supports oneclick or subscription transactions. The company combines the collection channels of online, telephone, booking system, and physical into a singe control panel, which simplifies transactions across multiple banks and currencies.
The solution can integrate with existing platforms and devices, and has advanced tools for anti-fraud.
Through this deal, PAYTPV hopes to expand its internal resources, improve the time to market of future products and innovation. It will also gain benefit from a more international perspective and meeting market standards, the company said.
InnoCells executive director Julio MartÃnez said, “The integration of the advanced solution offered by PAYTPV and the proven talent of the team there will strengthen Banco Sabadell’s leadership in digital payments, which is a business line that has a huge growth potential.â€
InnoCells CEO Julio MartÃnez recently told FinTech Global Commoditisation of the basic products, hybrid models that embrace a human-touch and user-centric digital platforms are all set to play an integral part in the future of wealth management. He went on to discuss the three trends that are shaping the wealth management and WealthTech space.
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