Payment Cloud Technologies, Tuxedo Money Solutions merge to Omnio Group

Friday 7 September 2018 11:17 CET | News

International fintech specialists Payment Cloud Technologies and Tuxedo Money Solutions have merged to Omnio Group, a provider of cloud-based banking and payment services.

The two companies mrged in a deal valued at EUR 70 million structured and negotiated by EDC Advisors.

The new group will operate across the UK, Europe and Australia, with the combined resources of the merged companies providing the scale and international reach required to compete in an expanding global digital banking market.

The deal also brings The Change Account, a banking inclusion company, and Travel Welfare, the airline compensation specialist into Omnio Group.

Omnio’s digital banking platform supports rapid market entry and agile product development through an omnichannel approach that supports all digital portals and customer touch points. Omnio Group will continue to invest in cloud-based fintech, providing the group with a broad range of leading banking and payment functionalities focused on the banking, retail, airline and corporate payments markets.

The company’s international blue chip client base includes An Post, Unisys, Ghana International Bank, Fair FX, STA, easyJet, TUI, Thomas Cook, Qantas, and 7/11.

Omnio is regulated in the UK, Europe and Australia, as well as being a principal member of Mastercard and Visa. The group processes payments worth in excess of EUR 1 billion annually, manages more than two million active accounts with balances of EUR 100 million and supports more than 300 banking & payment programmes worldwide.

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Keywords: Payment Cloud Technologies, Tuxedo Money Solutions, Omnio Group, fintech, payments
Countries: World