Worldpay, the UK-based global payment provider, announced their acquisition of SecureNet in mid-November with the deal expected to close before the end of this year. SecureNet, a payment provider offering services for in-store payments, mobile point-of-sale payments and online payments, has over 17,000 merchant clients with annual processing volumes exceeding $19 billion.
In addition to the respectable processing volume and number of clients, SecureNet has several patents pending for their technology. The company offers dongles for accepting card payments on iOS devices, online payment processing, proprietary POS software and other services. Worldpay, one of the largest payment companies in the world expecting to process nearly 10 billion transactions and $500 billion dollar, did not disclose the terms of the acquisition.
This marks Worldpay’s second acquisition of another payments company in as many years following the purchase of Century Payments in 2013. Tony Catalfano, CEO of WorldPay US went on to say how the company can now “uniquely accelerate the delivery of an integrated, omni-channel payments environment to the market by combining SecureNet’s innovative software integration with Worldpay’s direct acquirer distribution advantages and partnership management strengths gained by” the company’s “recent acquisition of Century Payments.”
Owned by Sterling Partners, SecureNet will soon be part of Worldpay which is owned by Advent International, Bain Capital along with management, pending approval of the acquisition.
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