One of India’s fastest-growing Transactions Processing & Compliance Solutions company, Paynear Solutions, has now gone global by acquiring Singapore-based GoSwiff International Pvt. Ltd.
With this acquisition, Paynear has become one of the largest players in the world in the payments processing domain, with a footprint in over 16 countries across Asia, Europe, Africa and the Middle East, apart from its India business. (Asia – Singapore, Malaysia, Philippines, Thailand, Indonesia, India; Europe – Georgia, Kazakhstan, Romania, Russia; Africa – Ghana; Middle East – UAE.).
In barely four years of its inception, Paynear has successfully established itself as a formidable player in the Indian payments ecosystem with its competence to build simple, secure and scalable payment solutions. The acquisition will now provide wings to Paynear to replicate its success across global markets. For the existing clients of GoSwiff, the move comes as a major boost, as Paynear’s expertise paves the way for providing superior products & services to develop innovative digital payment strategies.
Established in Hyderabad in 2013, Paynear has grown leaps and bounds and has today become a brand to reckon with. The acquisition positions Paynear firmly as a global player in the high-growth FinTech sector, pushing the company way ahead of its competition in India. With its proven innovative and technical capabilities, Paynear is now uniquely poised to reap benefits from the digitization wave sweeping the emerging and developing markets that GoSwiff had established itself in.
The consolidated group has over 200,000 payment terminals deployed worldwide, and services more than 30 banks globally.
Paynear’s proprietary technology platform enables Omni-Channel Payments that are device and platform agnostic. Paynear enables merchants, ISOs and banks to accept payments through POS/mPOS devices, app-based or any new-age payment solutions. ‘Paynear ONE’, the company’s flagship plug’n’play payments solution encompasses multiple forms of digital payments either in-store, home-delivery or by accepting debit/credit cards, net banking, bill payments, e-wallets, UPI, EMI, rewards and loyalty points. The platform is multi-lingual and can be seamlessly ported and deployed rapidly in the new international geographies.
Founded in 2010, Singapore-based GoSwiff International is a pioneer in mobile POS, providing its mobile payment platform to more than 20 banks and financial institutions in 16 countries. Some of its more prominent clients include ING Bank, Bank of Ayudhya, Indosat/Ooredoo, TBC Bank, Globe Telecom, IPay88, DBS, Priorbank, Ghana Commercial Bank, Mashreq Bank, KazKom Bank, BDO and UniCredit.