Payment service provider Klik & Pay and the Munich-based online payment service provider Paymill have announced that they are going to merge their services. Nothing will change for the existing customers since the products of both companies will continue to be available in the market.
Klik & Pay is a brand of CYBERservices S.A. The company was founded in Switzerland in the year 2,000 and offers online stores across the world a simple and secure method of handling online and mobile payments. The system enables all relevant payment methods. CYBERservices S.A. operates as an e-money institution and also owns a subsidiary in Luxembourg that is licensed by Commission de Surveillance du Secteur Financier (CSSF) to act as a PSP across Europe.
Paymill is financial technology startup which was founded in 2012 with the support of Rocket Interent. It brings a broad portfolio of satisfied customers from the online trading and software-as-a-service sectors into the partnership with their technology.
“We had some interested parties and offers following the announcement of the petition for insolvency. We therefore spoke to several possible cooperation partners, as we felt it was important that the deal would not only be the right one on paper, but also offer the best possible future for Paymill. We have a brilliant strategic fit with Klik & Pay and our vision and objectives are perfectly aligned, so we are very much looking forward to working together in the future. We share the long-term goal of making payment transactions for dealers the simplest part of their activities,” says Paymill founder and CEO Mark Henkel.
The takeover of Paymill opens up new markets and target groups for the Swiss fintec company. It has been seeking further growth in the sector of small and medium size enterprises.
Daniel P. Georges, the founder of Klik & Pay stated: “We have an innovative company in Paymill by our side that will help us develop new markets and target regions. Paymill already brings a lot of experience in and attractes us through its passion and enormous enthusiasm for the payment sector,”