Payscout, a payment processing company, has acquired Paywire Inc., a cloud and mobile software solutions provider, for an undisclosed amount.
Under the acquisition, the Paywire technology will be fully integrated under the Payscout umbrella. Existing customers will gain access to expanded payment processing technologies, including Paywire’s solutions for the education and health care industries.
"Paywire's entrepreneurial spirit and cutting-edge payment technologies are a natural fit for Payscout's innovative culture," said Cleveland Brown, CEO and Co-Founder of Payscout in a statement. "Their products mesh perfectly with our suite of virtual reality commerce and mobile payment processing solutions. "
The acquisition was financed in partnership with HSBC, which also is planning to finance a series of additional upcoming Payscout partnerships and acquisition, according to Payscout.