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Shift4 Pays $180 Million for Australian Payments Processor Smartpay
- Shift4, an integrated payments and commerce technology firm, is set to acquire Australian payments processor Smartpay for $180 million to strengthen its presence in Australia and New Zealand.
- The acquisition aims to combine payment infrastructure with Smartpay’s distribution capabilities to offer leading products like SkyTab POS for restaurants, SkyTab Venue for stadiums, and end-to-end payment solutions for hotels and unified commerce merchants in the region.
- Shift4's strategy involves combining acquisitions to provide an integrated payment experience with localized distribution, service, merchant-facing products, and owned payment rails to scale in various regions including Ireland, Germany, and the United Kingdom.
- Shift4's previous acquisition of Global Blue in February marked a significant move with an enterprise value of about $2.5 billion, enhancing the company's unified commerce capabilities worldwide.
- Outgoing Shift4 CEO Jared Isaacman described the Smartpay deal as transformative, enabling the company to excel in unified commerce globally.
- In the realm of point-of-sale payments, providing a smooth payment experience at large events remains a challenge, with increased demand for quick and personalized transactions to satisfy customer preferences.
- Consumers increasingly seek faster, more personalized, and frictionless experiences at each touchpoint, with a preference for self-service options like ordering directly from their seats, as highlighted by PYMNTS Intelligence.
- Tom Lapham, senior vice president of Cheq at Cantaloupe, emphasized the shift towards quicker service and enhanced customer satisfaction by offering self-service options in large venues.
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