DCS Innov, a subsidiary of DCS Fintech Holdings, has completed its acquisition of HolyWally, a trailblazer in the Wallet-as-a-Service (WaaS) sector.
The acquisition aims to expand DCS Innov’s operational footprint across the US and European markets, enhancing their global reach.
DCS Innov specialises in embedding core payment services like cards, virtual bank accounts, and Web3 payments into mobile apps available on iOS and Android. Their product, InstaWally, allows companies to integrate payment and loyalty capabilities swiftly.
HolyWally, on the other hand, has been pivotal in developing robust e-wallet solutions that serve clients globally.
The acquisition enables DCS Innov to leverage HolyWally’s innovative technology and existing global clientele to promote their InstaWally solution worldwide. This integration facilitates a seamless “Lift-&-Shift” model, simplifying global expansions for their clients.
DCS Innov continues to strengthen its market position through strategic partnerships with entities like EpisodeSix, Visa, and Mastercard, ensuring the global scalability of its services. The merger is set to enhance the service offerings substantially, readying InstaWally for imminent launch in major markets including the US, UK, Europe, and Japan.
Post-acquisition, Veljko Vasic, Co-Founder and CEO of HolyWally, will assume the role of Chief Commercial Officer at DCS Innov. The core team of developers from HolyWally will also integrate into DCS Innov to streamline the combined operations.
Ceridwen Choo, CEO of DCS Innov, commented on the acquisition: “The acquisition of HolyWally marks a significant leap forward for DCS Innov’s ambition to support fintech enablement globally. Payments connect businesses and consumers across the world. With global travel and portability being increasingly ubiquitous for both work and leisure, we have a social responsibility to make payments seamless, secure and swift, and provide a user experience that is easy to navigate and consistent to use, regardless of where a business or individual is located.
“It is doubtless to expect payment services to be increasingly available and consumed within mobile apps; I am therefore very confident that the combined expertise and assets of both entities will spur immediate growth and drive efficiencies in delivering payment solutions that are relevant, and quick to launch and scale for our clients. The acquisition is also just in time for us to incorporate a flavour of HolyWally into the launch of our WaaS solution, InstaWally.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
