Kindcard explores potential acquisition of OpenTransact

Kindcard explores potential acquisition of OpenTransact

Kindcard, which offers of an innovative ‘Closed-Loop’ payment solutions through its subsidiary Deb, has recently entered a letter of intent to potentially acquire OpenTransact (also known as Acepay, Inc.). 

OpenTransact, a leader in self-serve banking platforms, is renowned for its dedication to serving high-risk businesses. The platform is built with a strong focus on security, risk management, and adherence to industry regulations, making it an ideal match for Kindcard’s vision and technological prowess.

Michael Rosen, CEO of Kindcard, expressed his optimism about this development. “We believe that today’s announcement represents a significant opportunity to enhance our revenue and IP tech stack, and offer secure, all-in-one software and payments-as-a-service options to high-risk merchants that are seeking to manage their consumer website shopping experience and provide secure stable payment processing at checkout.”

Echoing this sentiment, William Clark, founder and CEO of OpenTransact, highlighted the synergies between the two companies. “The opportunity to join forces with Kindcard represents an exciting potential new chapter for OpenTransact, with our shared vision to revolutionize the way we think about high-risk transactions, blending innovation within Kindcard’s visionary approach as an alternative payment provider.”

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