Visa acquires payment gateway software company Payworks

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Visa has acquired Payworks, a provider of Point of Sale (POS) payment gateway software. Payworks is headquartered in Germany with offices in the US, the UK and Poland. The acquisition builds on a strategic partnership and investment Visa made in Payworks in February 2018.

Visa will bring Payworks’ cloud-based solution for in-store payment processing, together with its CyberSource digital payment management platform, to create a joint offering, the company said in a statement.

Terms of the transaction were not shared.

[Image courtesy: Payworks]