After the provisional declaration of insolvency of the Munich Paymill company in April, the M&A process is now finalized.
Klik & Pay, the online payment platform brand of CYBERservices SA, offers since 2000 to e-merchants worldwide a safe and simple payment solution. Through their platform merchants can cash in many currencies and across all major international and local payment instruments- both from their website and mobile application. CYBERservices Switzerland is registered as an e-Money Institution, while its subsidiary in Luxembourg, is regulated at a European level, licensed under the CSSF. In its strategy of internationalization, CYBERservices SA also opened late 2015 a subsidiary in the USA.
The start-up Paymill, founded in 2012, brings to this partnership, besides its technology, a large portfolio of satisfied customers and users. Whilst Klik & Pay brings Paymill a crucial missing tool: its regulatory status and establishment to form a strong and powerful partnership.
Daniel P. Georges, Klik & Pay founder, said: "We onboard with us- with Paymill, an innovative company that will help us in servicing new markets and that will enable us to target new markets. Paymill already has significant experience and convinced us by the great commitment and passion they have shown in the field of payments".
Founder and CEO of Paymill, Mark Henkel, explains his new shareholder choice: "Following the publication of our insolvency procedure, we received some buyers’ offers. We interacted with the potential partners because we wanted that things not only look good on paper but to provide the best future possible to Paymill. Klik & Pay strategic approach as its vision and objectives, fitted perfectly with ours and we look forward to future cooperation".
For both Klik & Pay and Paymill customers nothing changes. The current product offering will continue to be delivered and enhanced. We will of course need a few weeks to “gel” and implement joint projects. Our common goal is to provide consumers the simpler payment experience, no matter their environment. As well as enable e-merchants to build on a major technological and financial partners so they can fully concentrate on their business.
Paymill acquisition allows us to expand our presence in our targeted markets in the like of SMEs- as the first step towards our development phase through acquisition, as new ones are also on the way.
Contact : Press@klikandpay.com