Synovus Announces Strategic Investment in Qualpay to Help Deliver New Embedded Finance Platform
Summary
COLUMBUS, Ga. & SAN MATEO, Calif.--(BUSINESS WIRE)--Synovus Bank today announced that it has signed an agreement to strategically invest in Qualpay resulting in a 60% ownership interest. Maast will provide a quick and easy way for ISVs to offer payment processing, deposit accounts, debit cards, and loans as features in their software, under their brand, backed by Synovus. Additionally, the investment will boost Qualpays unique offering to ISVs of an easy-to-use, flexible, configurable, and individually-branded experience aligned with customer needs and the growing payment facilitator market. “This investment in Qualpay demonstrates our commitment to delivering innovative solutions that scale at the speed of business,” said Kevin Blair, Synovus president and CEO. “As we enter this new phase of growth, we’ll provide ISVs best-in-class customer service from both the merchant and partner side in a way that is simply unmatched by other industry players.