Following this announcement, the acquisition is set to give NomuPay the possibility to tap into Total Processing’s North American and MENA audiences and clients, as well as its technology, suite of products, and expertise. This is also expected to align with the company’s strategy to further scale and develop its business while remaining compliant with the requirements and laws of the different markets.
According to FintechFutures, NomuPay currently holds approximately 75% of the shares, as more detailed information on the deal is currently unknown. Neither of the companies responded or made any additional comments on the terms and conditions of the acquisition.
Total Processing represents a PSP company that focuses on providing payment services to its customers and partners, such as online payments, digital payments, virtual terminals, as well as card readers. Ecommerce and in-store merchants have the possibility to benefit from its suite of products and expertise, across multiple areas across the world, including Europe, North America, and the MENA region.
At the beginning of June 2023, the company announced the raise of a total of USD 53.6 million in a funding round in order to expand its operations and build more integration into its API products, led by Finch Capital and Outpost Ventures. NomuPay’s target customers and clients are merchants and traders who need to make and take payments and developments across several international markets. Following this announcement, businesses and partners were given the possibility to leverage the firm’s API in order to tackle any difficulties that could arise from having to go through the process of negotiation and integration of different, fragmented payment methods and procedures. NomuPay’s Unified Payments Platform was also expected to be optimised in order for the company to meet the needs, preferences, and demands of its customers and users.
In addition, NomuPay’s Unified Payment Platform (uP) aimed to continue to provide omnichannel payment acceptance and payout disbursements through a single API integration. The product was developed in order to simplify fragmented payment infrastructures throughout Southeast Asia, Turkey, and Europe. At the same time, the solution acted as an `all-access pass` to payments, as it also represented a gateway agnostic and was capable of augmenting existing payment infrastructures.
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