Visa has acquired the cloud-based payment processing software provider Payworks, one of its portfolio companies, also handing an exit to Commerzbank.
Payment services provider Visa acquired portfolio company Payworks, a Germany-based payment processing platform developer backed by financial services firm Commerzbank, for an undisclosed amount yesterday.
Payworks provides cloud-based payment gateway software that is used by point-of-sale (POS) system providers to onboard payment options into their offerings.
Visa said Payworks’ processing software will be combined with its CyberSource platform to creating a full payment management platform for in-store, in-app and online purchases.
Carleigh Jaques, senior vice-president and global head of digital…
