First Data to acquire Brazilian paytech Software Express
First Data will acquire Brazilian EFT solution provider Software Express for some massive transaction action.
Financial details were not disclosed
Financial details were not disclosed. Founded in 1986, Software Express provides technology solutions to merchants of different sizes, including multi-acquirer EFT (electronic funds transfer), multi-acquirer EFT POS, reconciliation, a payments gateway, and automated recurring payments.
Henrique Ribeiro Filho, Software Express CEO, says his firm is accredited by “all acquirers and has a broad portfolio offering including EFT, recharge servers for prepaid phones, front-end processor software, and correspondent banking software, among other services”.
Gustavo Marin, executive vice-president of First Data Latin America, adds: “We will be able to expand the current Software Express portfolio within First Data’s global platforms, and in 2019, the two companies expect to process more than 15 billion transactions in Brazil.”
Software Express provides its solutions to more than 100,000 merchants. It will continue to independently support its clients under its brand. Last year, it processed over 11 billion transactions.
Back in January, First Data teamed up with AIB in its bid for Dublin-based Payzone, which is valued at more than €100 million.
While First Data likes to buy stuff, Fiserv will acquire it in an all-stock transaction of $22 billion.
With the combined power, Fiserv will be able to offer a range of payments and financial services, including account processing and digital banking solutions; card issuer processing and network services; e-commerce; integrated payments; and the Clover cloud-based point-of-sale solution.
