Paysafe Completes Acquisition of Germany’s viafintech

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Posted on: November 2, 2021, 10:26h. 

Final up to date on: November 2, 2021, 11:05h.

Paysafe Group is able to take over the world of on-line funds for the gaming trade. It already has a robust presence in a number of markets, and now it’s accomplished the acquisition of one other.

Paysafe
People stroll in entrance of a banner for Paysafe. The corporate simply expanded its market even additional with the take over of viafintech. (Picture: Paysafe Fb)

In August, Paysafe introduced that it could deliver viafintech, the Germany-based firm behind Viacash, into its portfolio. That acquisition has now been accomplished.

viafintech manages a community of 20,000 gross sales factors and has over 20 retail companions. Its know-how lets clients withdraw cash from their on-line banking accounts utilizing a barcode.

FinTech Firms Achieve Floor on Banks

The phrases of the acquisition haven’t been made public. Nevertheless, the managing administrators of viafintech, Sebastian Seifert, Achim Bönsch, and Andreas Veller have turn into a part of Paysafe’s eCash workforce, headed by Udo Müller.

Changing into a part of the Paysafe Group will assist us construct on our enterprise achievements to this point and speed up our future progress as Europe’s primary, non-banking, cash-in/cash-out infrastructure,” Seifert stated.

viafintech was based in 2011 and gives a “cell ATM.” This allows customers to make deposits or withdraw money from digital financial institution accounts utilizing a barcode in a retail retailer. That is changing into a preferred different for some avid gamers, as a result of transactions will be executed with out submitting private info. It’s additionally helpful, as brick-and-mortar banks shrink their bodily presence in some cities.

Paysafe Growth Provides it International Consciousness

The acquisition of viafintech could also be a essential transfer for Paysafe’s international enlargement. viafintech is a number one market firm in Germany and is current in 5 different European international locations. It operates below the title of Barzahlen/Viacash in Germany and Austria, and Viacash in Italy, Greece, Switzerland, and Spain.

“Changing into a part of the Paysafe Group will assist us to construct on our enterprise achievements to this point and speed up our future progress as Europe’s primary, non-banking, cash-in/cash-out infrastructure,” Sebastian Seifert, cofounder and managing director of viafintech.

Paysafe has had a presence in North America for the previous 20 years. In 2006, Paysafe withdrew from the US market to adjust to the UIGEA (Illegal Web Playing Enforcement Act). Nevertheless, it returned to the area when it received the RFP to produce cost options for the Loto-Québec. That’s a provincial crown company mandated to function companies that are incidental to the operation of a State on line casino within the province of Quebec, Canada.

After the expertise in Canada, the corporate was in place to reenter the US. In 2013, the corporate began regulating on-line casinos and poker in Nevada, New Jersey, and Delaware. With the repeal of the Skilled and Beginner Sports activities Safety Act (PASPA) in 2018, Paysafe started providing operators cost options.

At present, Paysafe is a associate of 75% of US gaming operators in 17 states.



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