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Paynt Acquires E-xact Transactions to Accelerate Expansion Across North America
- European payment technology company Paynt has acquired Canadian payment processor E-xact Transactions to accelerate its expansion across North America.
- The acquisition gives Paynt a new operational hub in Vancouver, joining its existing regional offices in the U.K., Ireland, the Baltic States, and the U.S.
- E-xact Transactions processes over CAD 3.5 billion annually, serving bank partners, ISVs, and merchants.
- Paynt currently processes payments in the European Economic Area and the U.K., offering POS solutions and financial services for the hospitality and retail sectors.
- Paynt's founder and Group CEO, Sam Kohli, mentioned entering a new chapter in building the company's North American footprint.
- John Paul Golino, a payments industry veteran, has been appointed to lead the integration of E-xact into Paynt's platform.
- Paynt is evaluating U.S. acquisition targets and plans to finalize another deal by the end of the year.
- The acquisition expands Paynt's reach and enhances solutions for merchants and partners across Canada, as per Golino.
- Paynt highlights SoftPOS as a preferred choice for merchants to accept contactless payments using smartphones or tablets, eliminating the need for traditional POS terminals.
- SoftPOS is seen as an ideal solution for businesses aiming to boost sales, cut expenses, and improve customer experience.
- PYMNTS Intelligence and Discover Global Network report that 71% of merchants expect SoftPOS to replace traditional POS terminals.
- Paynt aims to reinforce global leadership in payment solutions through this acquisition.
- The company is focused on growth in North America and plans further expansion and acquisitions.
- The acquisition of E-xact Transactions is a strategic move to enhance Paynt's presence in the payment processing industry.
- John Paul Golino will oversee the company's go-to-market efforts in the North American region.
- Paynt's expansion reflects the increasing importance of digital payment solutions in the evolving payments landscape.
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