Shift4 acquires Finaro

According to officials, Finaro is complementary to Shift4 when it comes to geographic coverage, abilities, and addressable markets. By combining Shift4’s card-present solutions with Finaro’s capabilities in cross-border ecommerce, the merged organisation can offer a joined commerce experience that aims to compete with other payments companies around the world. Moreover, considering the current environment and that Finaro’s tech centre is based in Israel, the ability to collaborate aims to support employees and their families.

In addition to augmenting Shift4’s ecommerce offering, the acquisition allows the company to provide its card-present technology throughout Europe, including the SkyTab restaurant point-of-sale system and VenueNext stadium solution. Furthermore, Shift4 has 500 software integrations and over 200,000 merchant customers, which have a multinational presence and offer immediate international opportunities that can be unlocked as a result of the acquirement.

The two companies plan to rebrand Finaro as Shift4 to operate under a single brand that reflects their unified global payments platform. Also, Citi served as the exclusive financial advisor to Shift4 on its acquisition of Finaro. 

This is not the only acquisition Shift4 made recently. At the beginning of October 2023, the company acquired SpotOn’s sports and entertainment business unit for USD 100 million. Through this, Shift4 obtained all of SpotOn’s sports and entertainment customers, a part of its employees, and some technology assets. The deal allowed SpotOn to retain ownership of the source code for the software system to continue developing it in the restaurant space.

A few days prior to this, Shift4 announced its partnership with Amazon, aiming to deliver customers a checkout-free shopping experience at stadiums and arenas. The collaboration enabled Shfit4 to integrate its VenueNext solution with Amazon’s Just Walt Out technology to eliminate the checkout lines that usually take place at stadiums and arenas and to provide customers and clients with an enhanced payment experience.

Moreover, Shift4 partnered with Give Lively to provide fundraising services to nonprofit organisations. The partnership allowed Give Lively to integrate Shift4 as a payment processor, aiming to offer lower transaction fees to nonprofits, with a focus on expanding donation processing capabilities and including stock and cryptocurrencies. 

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