G+D joined Netcetera as a strategic partner in September 2020 to accelerate the software company’s growth with digital payments solutions, among others.
To further support Netcetera’s international growth, G+D is increasing its stake in the company to 60%, with the
share transfer planned for February 2023. Netcetera will remain an independent company. Moving forward, the new ownership structure will also be reflected in the board of directors, where G+D will have the majority of seats.
In terms of management, after the increase in stake, together with the Netcetera Board of Directors, CEO and co-founder Andrej Vckovski has decided to step down from the company’s operational management at the end of January 2023. Vckovski will continue to play a key role in future developments as Vice Chairman of the Board of Directors. In turn, the Board of Directors appoints Carsten Wengel as the new CEO of Netcetera as of 1 February 2023. Carsten Wengel heads up global sales and distribution for the digital and card-based payments business at G+D.
G+D comes in as Netcetera is finishing 2022 after a long expansion streak in the Middle East and Africa. In March 2022, Netcetera announced partnering with the Pakistan-based payment service provider Covalent to expand online payments in the Middle East and Africa. With the joint offer in the form of a Software-as-a-Service model, financial institutions can offer their customers authentication for ecommerce transactions. With Netcetera's 3DS solutions, the Covalent platform can offer two-factor authentication that verifies the identity of the user. This enables online payments and helps prevent card fraud. According to a Netcetera representative, the company aims to offer secure online payments with Covalent and expand their reach in Pakistan.
In August, Netcetera enabled payments in the Middle East with its acquiring server solution 3DS for PayTabs. PayTabs is a PCI-certified payment service provider company that offers social commerce, digital, and payment solutions in the MEASA region. PayTabs entered into a strategic alliance with Netcetera, which offers a 3DS server and 3DS solution tailored to the requirements of PayTabs in payment processing. The acquired services bolstered Netcetera’s service portfolio with payment processing services and technologies for processing and orchestrating integrated payments.
In February 2022, Netherlands-based payments platform WLPayments integrated Netcetera’s 3-D Secure Server to augment its acquirer-agnostic payment orchestration platform. Flex 3DS, WLPayments’ proprietary payment authentication solution was then implemented at the gateway level, which routes the transactions to an appropriate 3DS provider, such as Netcetera, for 3DS-checks.
This solution manages the SCA exemptions such as low-value, low-risk, or recurring transactions into account resulting in an easier checkout experience for the customers.
To learn more about Netcetera, please check out the company profile in The Paypers Company Database.
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