Societe Generale to acquire PayXpert for payment solutions
Summary
Societe Generale has entered into an agreement to acquire a majority stake in the FinTech PayXpert to strengthen payment solutions in Europe for retail and online merchants. Societe Generale said the accelerated pace of change in consumer behaviours (buy now pay later (BNPL), integrated insurance services…), new technologies, and the emergence of specialised FinTech’s are reshaping the payments market. With this acquisition, Societe Generale said it will broaden its offering for retail and online merchants and pursue its ambition to be a leading player in payment acceptance in Europe. It reflects our determination to maintain an integrated approach to payments and is consistent with Societe Generale’s long-standing and innovative policy of cooperation with FinTechs.” Nicolas Riegert, founder and CEO of PayXpert, added, “Our shared vision, together with the synergy of the Societe Generale and PayXpert teams, would enable us to consolidate an innovative offering for merchants of all sizes. With a modular and multi-acquirer solution geared towards cross-border and omnichannel needs, the envisaged integration would position us as a first-choice player as new specialists enter the market.” Mesh Payments, a finance automation platform, recently secured $60m in new funding to push forward its go-to-market efforts and continue its product innovation.
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