WorldFirst acquires Wyres retail cross-border payment service

Friday 17 August 2018 08:34 CET | News

Wyre has announced the entrance into a definitive account transfer agreement for the sale of the majority of its retail money transfer business to WorldFirst.

The migration process has started. The transaction has already completed and it is part of Wyre’s larger focus for their API-first approach and WorldFirst’s global infrastructure and payment coverage made them a clear choice.

The transaction is expected to see WorldFirst benefit from access to new retail customers who are sending money and paying invoices throughout China, Mexico, Hong Kong, Brazil, and the UK.

Wyre’s focus to target a limited number of countries has allowed the US-based company to acquire clients within the ecommerce, education, manufacturing, and transportation industry.

A purchase amount for the transaction has not been disclosed.

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Keywords: Wyre, Worldfirst, acquisition, agreement, online payments
Countries: World