Visa acquires Payworks for omnichannel payments
Written by Hannah McGrath
Visa has acquired German point of sale (PoS) firm Payworks in a deal that will enable Visa to offer cloud-based in-store and online payments processing.
Visa said it would integrate Payworks’ PoS payment gateway software with its CyberSource digital payment management platform to create a fully integrated payment acceptance solution for merchants and acquirers.
The acquisition builds on a strategic partnership and investment Visa made in Payworks in February 2018.
The joint offering will provide acquirers and payment service providers with a fully white-labeled omnichannel payment management platform, Visa said.
Payworks is a payment gateway software provider, streamlining face-to-face payment connectivity.
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.
Carleigh Jaques, global head of digital merchant products at Visa, said: “For the past two years, we have partnered closely with Payworks to deliver cutting-edge integrated commerce solutions for CyberSource’s clients worldwide.
“As these solutions become mainstream, aligning more closely with Payworks and combining our businesses is a natural extension of our relationship.”