US FinTech Aliaswire sells SMB Credit Card Firm Payvus to Onboard Partners

Boston-based FinTech  Aliaswire has sold its Payvus small business credit card issuing and capital management business to Onboard Partners.

The acquisition announced Thursday (June 1) expands Onboard’s financial services advisory, marketing and portfolio management capabilities with a new platform designed to meet the unique needs of small business owners. The financial details of the deal were not disclosed.

In a press release, Scott Shaw, a strategic partner of Aliaswire, said in leveraging the innovative Payvus platform and Onboard’s deep domain expertise, “we can bring a compelling new offering to our diverse array of partners and clients that will open up new revenue and portfolio management opportunities in the long underserved small business market.”

Aliaswire CEO Jed Rice added that Onboard will “provide Payvus with a new foundation to continue to innovate and grow” and give the platform “what it needs to reach its full potential.”

Meanwhile, Adyen, a financial technology platform whose clients include Facebook, Uber, H&M, eBay and Microsoft, announced the launch of Payout Services. This new offering enables Adyen’s customers to payout acquired funds in the preferred method of their affiliated users or partners with increased velocity.

According to Adyen CCO Roelant Prins, the goal is to provide a market-leading solution that supports real-time payouts. “Our solution makes it easy for enterprises to accept and payout funds in one place, acting as a catalyst for business growth with our innovative technology,” Prins said in a press release.

Adyen’s capability to do this stems from its branch and banking licenses and direct connection to real-time banking and card schemes. Payments can be processed up to three days faster than the industry standard, filling a gap for 75% of small and medium-size business (SMB) platform users who express a need for same-day settlement or faster, according to research by Boston Consulting Group.