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Worldline has acquired a 55% stake in SoftPos, a Warsaw-based fintech company specializing in converting Android devices into secure payment terminals. This strategic move allows Worldline to expand its suite of payment solutions, particularly in the mobile payments sector, and supports the launch of the new product, Worldline Tap on Mobile. The acquisition positions Worldline advantageously in the payments value chain, opening up numerous business opportunities.
Founded in 2019, SoftPos specializes in transforming smartphones into professional financial POS terminals. Its core service enables the acceptance of contactless payments from plastic cards and their virtual equivalents, including Google Pay, Apple Pay, wearables, and proprietary HCE wallets. A key differentiator for SoftPos is the convenience it offers by eliminating the need for additional hardware, allowing merchants to use their smartphones as secure payment terminals.
Worldline Global is a leading PayTech provider, specializing in comprehensive payment services. The company offers a wide range of solutions, including in-store, online, and omnichannel payment options for merchants, as well as card issuing, acquiring, and digital banking services for financial institutions. Worldline processes over 43 billion transactions annually and operates in approximately 170 countries, making it the 4th largest payment service provider worldwide. Its extensive reach and diverse offerings position it as a key player in the payment services industry.
Worldline acquired a 55% stake in SoftPos on October 26, 2022. This acquisition comes at a time when the demand for mobile and contactless payment solutions is surging, driven by the increasing adoption of NFC technology and the global shift towards digitalization in commerce. The timing also aligns with Worldline's strategic focus on innovative payment solutions, following the sale of its terminal business to Apollo Funds.
The acquisition of SoftPos by Worldline has led to significant changes in the company's operations and management. With Worldline now holding a 55% stake, there is a notable shift in the ownership structure, potentially influencing strategic decisions and day-to-day operations. The integration of SoftPos's technology into Worldline's portfolio has also resulted in the launch of the "Worldline Tap on Mobile" product, which allows merchants to accept payments using Android devices without additional hardware. This new product is expected to streamline operations and expand market reach, enhancing the overall efficiency and effectiveness of SoftPos's offerings.
Employee reactions to the acquisition have been largely positive, with key figures like Grzegorz Nowakowski, CEO of SoftPos, expressing optimism about the strategic support from Worldline for further product development and market expansion. Customers have also responded favorably, appreciating the convenience and flexibility offered by the new payment solutions. The technology developed by SoftPos is already actively used by multiple merchants across Europe, indicating a strong market acceptance. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly, ensuring a smooth and efficient transition.
