Following this announcement, the customers of both Velo Payments and YapStone will be given the possibility to benefit from faster and more secure payments, as well as reduced transaction fees. These are set to be delivered via a unified advanced global payment management system, which was designed on multiple effective technologies, such as Open Banking, fraud prevention and fraud detection services, and agnostic rails.
The initiative follows the aim of both companies to improve the overall payments landscape, combining YapStone’s payfac and MSB licensure with Velo Payments’ disbursements platform for multiple ecommerce and marketplace business models. Furthermore, the enterprises also prioritise the process of building safe and customer-centric services that reduce the complexity and the difficulty of payments. Officials from YapStone mentioned in the press release the firm’s plan to optimise payments methods for users in the short-term and vacation rental industry (STVR) while expanding its reach into multiple other marketplaces around the globe at the same time.
Through the use of technologies such as Velo Payments’ Open Banking platform, the acquisition is aiming to deliver clients and businesses around the world efficient payment experiences, by reducing the overall cost and complexity of payments. The companies will focus especially on cross-border payments.
The acquisition procedure is set to commerce within this quarter of the year, being subject to standard regulatory approvals as well as closing conditions.
The US-based payment processing company YapStone announced the launch of its rebrand in May 2022, with the redefined approach to localised payments ahead of global expansion. The process of undergoing the major rebrand was built on the firm’s foundations and it signified the beginning of its expansion globally. YapStone was set to offer clients and businesses around the world local payment solutions and services.
Furthermore, the company focused on its redefined plan to amplify global commerce in local markets by using its local payment methods expertise, as well as its stackable, scalable payments platform. Businesses and clients were set to be connected to hyperlocal payment methods in new areas, regions, and markets around the world, which enabled them to offer customers improved financial control.
The overall rebranding strategy centered around a new website, logo, as well as a new brand identity. The new design of the website was inspired by the change and transformation that happened across the global payments landscape, with the typeface and dynamic color pallet being chosen to better reflect TapStone’s approach to local payments.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now