Paysafe’s all-cash transaction with Viafintech will expand growth prospects in Germany and create revenue-generating opportunities to cross-sell viafintech’s alternative banking and payments solutions to global merchants.
Viafintech, founded in 2011, operates under the brands Barzahlen/Viacash and Viacash, providing financial services in the DACH region (Austria, Germany, and Switzerland). They also have a presence in other European countries and collaborate with retail partners, as well as the banking, bill payments, and ecommerce industries.
Combining Viafintech’s banking framework and market position with Paysafe’s payments portfolio and global merchant base is expected to create growth opportunities for both organizations in Europe and beyond. Paysafe’s ecash and open banking CEO Udo Müller believes this positions them well as essential payments partners to challenger banks worldwide as consumer banking habits evolve towards mobile-based solutions.
In this deal, viafintech’s team, including managing directors Sebastian Seifert, Achim Bönsch, and Andreas Veller, will join Paysafe’s ecash and open banking solutions team. Additionally, viafintech’s former majority shareholder, Glory Ltd, will establish a strategic partnership with Paysafe, offering paysafecard as a payment option in their in-store payment kiosks.
Grenke Bank AG, which has been providing viafintech’s German bank license and regulatory framework since 2017, will continue to offer the same banking service moving forward. Viafintech co-founder Sebastian Seifert is excited about the deal, believing it will fuel the shift away from legacy banking and drive greater financial inclusion.
The deal is expected to close in the coming months, subject to customary closing conditions. This acquisition follows Paysafe’s recent all-cash transactions to acquire ecommerce payment provider SafetyPay and Peruvian alternative payment platform PagoEfectivo.
