Rapid, a company that makes software-as-a-service and other solutions for financial services, recently said that it will buy Valitor, an Icelandic fintech company that focuses on payments innovation.
Crowdfund insider says that the deal is worth €94 million, which is about $100 million. It was thought that this purchase would help Rapyd grow in Europe and make it a world leader in payment technology.
Valitor is one of the most important companies in Europe when it comes to new ways to pay online. With this purchase, Rapyd will be able to help merchants in Europe process payments more efficiently and continue to grow on a global scale.
The company had already bought Paynetics in 2020, which was another strategic acquisition that showed how committed it was to improving its product line.
Since 2004, Valitor’s innovative products, such as Visa Direct Instant Payments and PSD2 Open Banking APIs, have been used to help people make payments.
With more than 30 years of experience in payments technology, Valitor’s team is well-equipped to help Rapyd expand its operations in Europe and meet the demand for efficient payment processing solutions across the continent.
Both companies also have technologies that work together to help merchants support new digital use cases like loyalty programmes, digital wallets, e-commerce transactions, and a lot more.
Arnar Mar Jonsson, the CEO of Valitor, said, “We are thrilled by this news and look forward to working with Rapyd to speed up our goal of reimagining payment experiences for consumers all over Europe.”
He also said, “Rapyd has shown a strong commitment to building secure and reliable payment infrastructure that serves multiple markets around the world. Because of this, we think our partnership will bring more value to everyone involved.”
The purchase of Valitor is part of Rapyd’s plan to create a full set of products and services that can help merchants lower their operational costs and make their businesses easier to scale.
The company has also teamed up with a number of banks in Europe so that their debit card networks can process transactions faster.
They have also added support for Apple Pay, Google Pay, PayPal Express Checkout, and Masterpass QR Code Payments, among other alternative payment methods.
With this move, Rapyd shows that it is one of the most innovative financial technology companies in the world. With smart moves like these, they are sure to get a bigger share of the market and help improve Europe’s payment infrastructure.
Conclusion
Iceland-based Rapyd’s purchase of Valitor is a strategic move that will help them grow their presence in the European market and become the world’s leader in payment technology.
With more than 30 years of experience, Valitor’s team and technologies are well-equipped to help Rapyd reach its goals for efficient payment processing solutions across Europe.
This move by Rapyd makes it even more clear that it is one of the most innovative financial technology companies in the world. Through new digital use cases, Rapyd will be able to help merchants reduce operational costs while making it easier to scale.
This partnership should be good for everyone involved, which makes it an exciting prospect for both companies going forward.
