ACI Adds Payments Software Through Pay.On Acquisition

By Andy Peters November 05, 2015, 3:42 p.m. EST 1 Min Read

ACI Worldwide in Naples, Fla., has acquired Pay.On, a German maker of software for payment services providers.

ACI paid about $200 million in stock and cash to acquire all of the equity of Pay.On, according to a news release. The companies did not disclose their target closing date.

ACI financed the acquisition with $181.5 million from a revolving credit facility. The acquisition will not be material to ACI's full-year revenue forecast.

Pay.On's software-as-a-service product will complement ACI's Merchant Retail Omni-channel Universal Payments product offering, ACI said. ACI has also recently added real time kiosk bill pay through a partnership with LD Systems and real time payments technology. Pay.On, based in Munich, provides a white-label global payments gateway and open development tools.

twitter

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Fintech

Inside Marqeta's quest to diversify clients beyond Block

The card issuing fintech has worked for years to expand its business outside of Block. Mike Milotich, who in February became the third person to hold the fintech's top job in as many years, has been tasked to do just that.

By Joey Pizzolato

May 23
Innovation of the Year 2025

Western Alliance co-created tech blocks class action fraud

As the class action lawsuit settlement industry became overwhelmed with fraud, a bank and a fraud scoring company teamed up to fight back.

By Carter Pape

May 23
Economy

Fed's Cook: More study needed on bank-nonbank interreliance

Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.

By John Heltman

May 23
Politics and policy

Supreme Court upholds Trump firing of board members for now

The Supreme Court blocked a lower court injunction reinstating two Democrats who had been fired without cause from the National Labor Relations Board and Merit Systems Protection Board, explicitly holding that Federal Reserve Board members would not be affected by the case.

By John Heltman

May 23
Industry News

BancFirst plans to acquire American Bank of Oklahoma

BancFirst Corp. plans to acquire American Bank of Oklahoma; JPMorganChase rolls out a new platform to advise clients on international dynamics; Greg Cunningham takes on a new title, expanded duties at U.S. Bancorp; and more in this week's banking news roundup.

By Editorial Staff

May 23
Cryptocurrency

Digital dollars? The stablecoin impact on banks, payments

With licensing bills progressing through both the House and Senate, stablecoins are poised to become part of the regulated financial sector. How the banking and payments landscape will respond to that is up for debate.

By Kyle Campbell

May 23