Visa acquires Payworks
Visa announced it has acquired Payworks, a Munich-based provider of payment gateway software for the point of sale, or POS. Visa will bring Payworks' cloud-based solution for in-store payment processing together with its CyberSource digital payment management platform to create a payment acceptance solution for merchants and acquirers. The joint offering will provide acquirers and payment service providers with an omnichannel payment management platform. The combined capability will enable Visa's clients to offer a unified payment experience whether their customers are paying in-store, in-app or online. The acquisition builds on a strategic partnership and investment Visa made in Payworks in February 2018. By combining the CyberSource e-commerce and mobile payment capabilities with Payworks' cloud-based architecture, Visa's merchant and acquirer clients will be able to support face-to-face transactions across a variety of POS terminal types, including digital experiences, through a single integration. Visa's merchant and acquirer clients will be able to use Payworks' automated solutions to run and configure their point-of-sale offerings and terminals.