B2B Payments

Castles Technology Buys Spire Payments

mobile payment

Global payment solutions provider Castles Technology has acquired Spire Payments, a provider of electronic funds transfer at point of sale (EFTPOS) systems, the company announced in a Thursday (Oct. 1) press release.

With the acquisition, the company said, Castles Technology is now even more prepared to meet payment needs including in-store acceptance and value-added solutions.

The move "represents an important strategic move for the future of our businesses, as we continue to evolve and innovate to provide merchants acquirers with future-forward payments solutions," Castles Technology Group CCO Jean-Philippe Niedergang said in the announcement.

He said the acquisition would add more choice for customers alongside new technical and security capabilities.

"Adding Spire Payments solutions and services, to Castles Technology product portfolio (Linux, Android, MiniPos, ECRPos, TMS, Market Place) provides a major platform for us to significantly expand our business reach into EMEA markets," he said.

Castles Technology customers will benefit from having a local presence and more access to the new technology.

Headquartered in Taiwan, Castles Technology has regional offices in North America, Spain, Italy, Japan, China and Singapore to support global markets.

Demand for new kinds of payments, particularly digital and contactless in light of the pandemic, have been increasing for months now. Nandan Sheth, senior vice president and head of global digital commerce at Fiserv, recently spoke with PYMNTS about the permanence of the new changes to the payments ecosystem.

He said the broadest challenge would come from companies trying to implement omnichannel experiences - according to Sheth, companies will have to provide efficient experiences across virtual and physical platforms.

And, he said that the path forward would have to incorporate those left behind, including the 40 million Americans enrolled in the Supplemental Nutrition Assistance Program (SNAP) or the Special Supplemental Nutrition Program for Women, Infants and Children (WIC), who can't use their cards for the newer types of delivery and pickup options.

Touchless payments, Sheth said, will likely continue evolving from here, with further innovations that will make it easier for everyone who doesn't want to physically interact at a payment checkout.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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