TabaPay to acquire assets of Synapse Financial Technologies

Monday 22 April 2024 15:06 CET | News

Money movement platform TabaPay has announced that it will acquire the assets of Synapse Financial Technologies, as part of its product expansion strategy. 

Following this announcement, the acquisition of assets will focus on TabaPay’s strategy of product expansion, aiming to optimise customer experience and provide business continuity for already existing Synapse clients, financial institutions, and partners. In addition, the agreement comes after the filing made by Synapse Financial Technologies, representing a voluntary bankruptcy petition under Chapter 11. 

TabaPay will also focus on meeting the needs, preferences, and demands of users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 


More information on the announcement

TabaPay represents a money movement platform that was developed in order to provide scalable, secure, resilient, and cost-efficient instant payment solutions. The company processes multiple transactions in the region of the US and Canada, and it also offers merchants acquiring products, instant transactions, as well as solutions across the entire payment ecosystem. In addition, TabaPay leverages a unified API in order to provide customers with the opportunity to gain direct access to multiple banking partners, network connections, and payment processing products. 

Throughout this agreement, the incorporation of the Synapse features, expertise, and suite of solutions is expected to accelerate the overall growth and development process of TabaPay. At the same time, the agreement will optimise its dedication to delivering improved and secure tools that will give partners the possibility to save money, while also offering safe and efficient financial products to their clients.

The addition of Synapse Financial Technologies’ offerings is currently pending approval by the bankruptcy court. Before the acquisition agreement, both TabaPay and Synapse Financial Technologies provided complementary and secure financial technology services, focusing on optimising the customer experience and accelerating the overall financial landscape development. 

After the asset acquisition is approved by the bankruptcy court, TabaPay is expected to announce the additional solutions that leverage the Synapse assets. 

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Keywords: acquisition, banking, online banking, mobile banking, digital banking, financial services, financial institutions
Categories: Banking & Fintech
Companies: Synapse, TabaPay
Countries: World
This article is part of category

Banking & Fintech




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