ACI Worldwide, a provider of electronic payment and banking solutions, has fully acquired e-Commerce payments provider PAY.ON in a combination of cash and stock. While the full financial terms of the transaction have not been disclosed, PAY.ON is now valued at approximately $200 million.
The PAY.ON payment gateway solution offers connectivity to more than 300 alternative payment methods and card acquirers in more than 160 countries. This global coverage is designed to help merchants and payment service providers (PSPs) to increase international revenues, reduce costs and risk, and accelerate market expansion.
The ACI UP Retailer Payments service, when combined with the PAY.ON gateway solution, can provide merchants and PSPs the chance to deliver a seamless omnichannel customer payment experience in any retailer modality — in-store, mobile or online — via both on-premise and SaaS delivery options.
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“PAY.ON brings world-class e-Commerce payment and Card Not Present (CNP) capabilities to ACI,” said Phil Heasley, President and CEO of ACI Worldwide. “Its SaaS-based business model, coupled with its strength in alternative payments and cross-border capabilities, allow us to expand our e-Commerce platform broadly into new geographic regions. Our acquisition of ReD in 2014 strengthened our position as a market leader in the CNP payments risk management market, and this acquisition further solidifies our position as a leading omnichannel payments provider.”
