Fiserv enhances its embedded finance solutions by closing the acquisition of Payfare
Fiserv, Inc., a leading global provider of payments and financial services technology solutions, announced it has completed its acquisition of Payfare Inc., a provider of program management solutions with a particular focus on new economy workforces. Payfare’s co-founders and employees are now part of the Fiserv team.
This acquisition complements Fiserv’s existing embedded financial solutions with card program management and a white-label consumer application. „Payfare’s offerings, combined with Fiserv’s strengths in processing, bank ledgers and integrated value-added services, provide a complete solution for embedded banking, payments and lending.” – the company said.
Pursuant to the plan of arrangement, the Purchaser acquired 48,287,259 Shares, then representing all of the issued and outstanding shares of Payfare, for a price of C$4.00 per share, or C$193,149,036 in the aggregate, according to the press release.
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