Paysafe has accelerated its growth in Germany with the acquisition of viafintech. The specialised payments platform announced the completion of the deal on Monday.
viafintech, operating under the brand viacash, offers a bank-independent alternative payments infrastructure, offering a popular alternative to the traditional banking system. This investment allows Paysafe to expand in critical markets and position itself as the essential payments partner to challenger banks around the globe.
Sebastian Seifert, Co-founder and Managing Director of viafintech, said:
Sebastian Seifert
Source: LinkedIn
Becoming part of the Paysafe Group will help us to build on our business achievements to date and accelerate our future growth as Europe’s number one, non-banking, cash-in/cash-out infrastructure. We are excited to be starting this next chapter and doubling our efforts to strengthen financial inclusion and shift away from legacy banking.
Founded in 2011, viafintech integrates with digital banking apps for its “mobile ATM” concept which allows consumers to make deposits or withdraw cash from their digital bank accounts at retail stores using a barcode. This offer is becoming more attractive in the region as bricks and mortar bank branches close and challenger banks and digital wallets grow in popularity.
