PYMNTS - Voice Technology - September 2023

AppTech Aims to Enhance Digital Commerce Platform With FinZeo Acquisition

FinTech company AppTech Payments has announced its intention to acquire FinZeo, a software development company focused on providing advanced payment and banking technology to businesses.

The planned acquisition will enhance AppTech’s next-generation digital Commerse platform, the provider of B2B and B2C commerce solutions said in a Wednesday (Sept. 20) press release.

“This marks a pivotal moment for AppTech, propelling us towards an accelerated growth trajectory as we continue to maximize the potential of our platform and reshape the global payment landscape,” Luke D’Angelo, chairman and CEO of AppTech, said in the release.

FinZeo was founded in 2018 and offers payment and banking technology that can be accessed through online portals or via application programming interface (API), according to the press release. The company’s goal is to make payments more efficient and economical for both large and small businesses, with a particular focus on major airports and other large to medium enterprises.

Chris Leyva, founder and CEO of FinZeo, said in the release that the agreement with AppTech provides an opportunity for the FinZeo team.

“We are excited to partner with AppTech and leverage their leadership, expertise and capital to accelerate united growth,” Leyva said.

AppTech Payments provides digital financial services for corporations, small and medium-sized businesses (SMBs), and consumers through its scalable cloud-based platform architecture and infrastructure, according to the release. It also develops and delivers commerce experiences.

The terms of the acquisition have not been disclosed as they are subject to reaching a definitive agreement, the release said.

In another recently announced acquisition, prepaid payments platform Recharge purchased digital gift card and gaming card firm Startselect. The deal marks Recharge’s first achievement in its plan to consolidate the digital prepaid market via mergers and acquisitions, with other such deals planned in the next year, the company said when announcing the move Sept. 14.

About two weeks earlier, on Aug. 29, Trustly said it plans to acquire SlimPay to build a pan-European recurring payments service. The deal will combine Trustly’s global payment method with SlimPay’s platform for recurring payments to create a new payment experience in the region that will enable customers to easily pay bills, subscribe to services and choose flexible payment plans.