SHERMAN OAKS, Calif., Oct. 21, 2020 /PRNewswire/ -- After an extended courtship, PaymentCloud has acquired the majority share of the contactless technology startup Paysley for an undisclosed amount. The acquisition will serve to combine the contactless payment functionality of Paysley with the payment processing power of PaymentCloud.
Allowing any customer's phone to be the point of sale without an account, Paysley's mission is to bring quick, easy, and advanced payment options to every business owner. The personalized QR code feature allows customers to pay securely on their phone by inputting their card information or via Apple Pay™ and Samsung Pay™ accounts. These instantly generated codes also simplify curbside pickup with one-click payment verification.
With a highly customizable interface, Paysley is ideal for fundraising, donations, recurring rent payments, and businesses utilizing text message payment requests. The novel coronavirus has imposed restrictions on consumer purchasing that Paysley is able to accommodate. Being completely contactless, simple, and secure, Paysley is the perfect solution at the perfect time.
"The future of payments is already shifting toward contactless means and now, with the acquisition of Paysley, we will be at the forefront of this shift. I'm eager to bring this innovative solution to fruition at such a pivotal time," said PaymentCloud CEO Shawn Silver. The newly acquired Paysley team is also excited to get to work. Chris Roets, Paysley's founder, shared in Silver's excitement by adding, "We are looking forward to bringing Paysley to its full potential and I'm overjoyed that Shawn and his team will be the ones to do it."
With the acquisition finalized, Paysley is now being offered nationwide through approved ISOs and MSPs. Paysley can be added to existing merchant accounts and POS systems as well as a stand-alone, all-in-one solution.
With 70+ employees gearing up to upgrade to a 17,000-square-foot space in Encino, California, this dynamic group of young payment professionals facilitate credit card processing for merchants spanning a multitude of industry types. An easy application, transparent approval process, and hundreds of integration options set PaymentCloud apart. While on the partnership side of things, PaymentCloud's dedicated department works with over 80% of top digital ISOs that utilize its hard-to-place program for its seamless submission process, efficient onboarding, and management tools at just the click of a button.
Paysley, originally Mobipaid, began in 2014 by two South African entrepreneurs with extensive experience in the payments industry. The technology quickly took off throughout Africa and Europe. Hoping to reach the North American market, Paysley's founder, Chris Roets, relocated to North Carolina, set up a new office, and brought along seasoned staff with the intention of simplifying checkout, expanding functionality, and normalizing mobile and card-not-present payments in the U.S.
In late 2019, Roets made a splash with investors by hyper-targeting a new go-to-market plan. Rebranding as Paysley and adding new, custom features helped make a splash in the American market.
PaymentCloud acquires majority share of Paysley
SOURCE PaymentCloud, Inc