Tuesday, May 03, 2011

WorldPay acquires UK alternative payments provider Envoy

WorldPay acquires UK alternative payments provider Envoy

Global payments provider WorldPay plans to acquire Envoy Services Limited, a provider of alternative payment solutions to ecommerce merchants across the globe. The terms of the deal were not disclosed.

Envoy is a UK FSA-regulated global payments service founded in 2005. The service offers single point access to popular local payment and collection services worldwide.

WorldPay Group CEO Ron Kalifa said: “The acquisition of Envoy confirms WorldPay’s status as the leading player in global eCommerce payments and fraud prevention and signifies a renewed focus on innovation for our customers.”

Following the acquisition, Envoy will continue to operate its current business model, and the existing Envoy management team will join the senior leadership of WorldPay’s eCommerce business unit.

Envoy founder and CEO, Phillip McGriskin, commented: “We are delighted to be joining the WorldPay team and see a unique window of opportunity to create a truly differentiated, market-leading proposition for global merchants.”

The acquisition of Envoy is expected to close in May 2011 after customary approvals and comes six months after private equity firms Advent International and Bain Capital formally completed their acquisition of WorldPay from The Royal Bank of Scotland Group.

Jason Kiwaluk

Mower & Shoveller,

Ideation | Ecommerce | Fintech | Innovation | Strategy | Opinionated Agitator RevenueWire,FuturePay+PayMotion

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