Euronet acquires Infinitium

Thursday 15 February 2024 09:44 CET | News

US-based financial technology solutions and payments provider Euronet has announced its acquisition of Infinitium, a Singapore-based digital payments company. 

As per the information detailed in the press release, the acquisition of Infinitium allows Euronet to integrate the latter’s products into its Ren payments platform to offer increased protection against consumer fraud and merchant chargebacks in online transactions.

US-based financial technology solutions and payments provider Euronet has announced its acquisition of Infinitium, a Singapore-based digital payments company.

The acquisition’s capabilities and objectives

As a provider of risk management and payment authentication services, including 3D Secure (3DS), Infinitium focuses on addressing fraud in ecommerce. With the addition of this authentication step, merchants receive an extra level of security, minimising the risk of unauthorised transactions and improving overall online payment safety. Moreover, the company provides omnichannel payment gateway services for merchants and acquirers, allowing them to operate their services efficiently across a range of channels. Currently, Infinitium’s customers include banks and merchants located in Singapore, Malaysia, Indonesia, Hong Kong, Brunei, Cambodia, the Philippines, and India.

Furthermore, regulators in the EU, India, Singapore, and other countries made 3DS mandatory to offer additional protection against consumer fraud and merchant chargebacks, while other regions, including the US and Latin America, do not require the authentication step. However, the need to minimise card not present (CNP) fraud is projected to expand considering that the global ecommerce market is set to reach USD 8.1 trillion by 2026. The value of worldwide ecommerce losses to online payment fraud was USD 48 billion in 2023, a significant increase from USD 17.5 billion in 2020. As a response to this, the 3DS market is estimated to reach USD 1.2 billion and is forecasted to be USD 2.8 billion by 2030, with a compounded annualised growth (CAGR) of 13.3%.

According to Euronet’s officials, stakeholders in the payments ecosystem have a substantial incentive to adopt 3DS in the upcoming period. By acquiring Infinitium, the company aims to improve its Ren payments platform with technology that offers multi-channel transaction authentication across issuing and acquiring domains. By leveraging Infinitium’s payment gateway, Euronet integrated more addressable market opportunities with the enhancement of the Ren platform. Representatives from Infinitium underlined that the company develop fraud detection solutions for risk-based authentication of CNP transactions by using modern technologies. The solutions focus on addressing CNP fraud while also ensuring increased success rates for merchants and issuers. The current move supports Infinitium in providing integrated payment offerings to Ren to customers across Asia and the world.

The press release mentions that Infinitium’s workforce of approximately 200 software developers and architects, as well as its management team, are set to remain with Euronet following the acquisition. By working together, the two companies intend to solidify their position in the industry by delivering improved offerings to customers worldwide.

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Keywords: acquisition, ecommerce, merchant fraud, platform, fraud management, chargebacks
Categories: Payments & Commerce
Companies: Euronet, Infinitium
Countries: World
This article is part of category

Payments & Commerce




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