Visa Acquires Payworks
Acquisition enhances Visa integrated commerce payment management capabilities for clients worldwide
The combined capability will enable Visa’s clients to offer a unified payment experience whether their customers are paying in-store, in-app or online. The acquisition builds on a strategic partnership and investment Visa made in Payworks in
“For the past two years, we have partnered closely with Payworks to deliver cutting-edge integrated commerce solutions for CyberSource’s clients worldwide,” said
Payworks is a payment gateway software provider, streamlining face to face payment connectivity. By combining the CyberSource best in-class eCommerce and mobile payment capabilities with Payworks’ cloud-based architecture, Visa’s merchant and acquirer clients will be able to support face-to-face transactions across a variety of POS terminal types, including digital experiences, through a single integration.
According to recent research, 94% of retailers note that an omnichannel fulfillment strategy is one of their company’s top priorities.1 In addition, 58% of shoppers say they have ordered online and picked up in store2, and 37% of shoppers make additional in-store purchases at pick up time3.
“Integrated commerce is an accelerating opportunity for Payworks and its clients,” said
Working with some of the largest payment providers in the world, Payworks’ technology and services currently enables omnichannel commerce experiences in a variety of settings, such as restaurants, retail and transport.
Visa’s merchant and acquirer clients will be able to use Payworks’ automated solutions to run and configure their point-of-sale offerings and terminals, making it easy for merchants to set-up and start accepting any form of electronic payment, both face-to-face and online, through a single integration to CyberSource.
This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “will,” “is expected,” and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the benefits to Visa arising from the completion of the transaction.
By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa’s forward-looking statements due to a variety of factors, including the risk that the transaction may not be consummated; the closing conditions relating to the transaction; and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended
You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.
1 Put Fulfillment At The Heart Of The Customer Experience,
2 Omnichannel Report, Internet Retailer, 2019
3 “The Rise of the Click & Collect Superconsumer,” OrderDynamics,