South Africa’s Payment24, a global payments platform known for its focus on payment and loyalty solutions, has acquired Inergy 24, a Switzerland-based company.
This move aims to boost Payment24’s presence in Europe, offering an extended range of services such as payment, fleet management, mobile and retail, loyalty, electric vehicle (EV), and cloud payment solutions.
Shadab Rahil, joint-CEO at Payment24, expressed excitement about entering the European market, highlighting the platform’s innovative digital solutions.
The acquisition allows Payment24 to better serve clients across Europe, with Inergy 24 gaining access to Payment24’s development, support, sales, and marketing teams.
As part of the agreement, industry expert Alan McGown becomes the CEO of Inergy 24, while Rahil and Nolan Daniel, joint CEOs of Payment24, join the company’s board. McGown emphasized the need for modern and flexible payment solutions in Europe, praising Payment24’s platform for its modularity and expandability.
Payment24’s platform has evolved from a fleet management and petroleum payments solution to a comprehensive payments and transacting solution over the last three years.
The company recently introduced Cloud Switch, a cloud-based payment solution designed to reduce time to market for businesses upgrading their transaction switching systems.
Cloud Switch, described as a hardware-less payment switch, supports various payment methods, emphasizing scalability, reliability, and real-time monitoring.
Rahil emphasised the global applicability of Cloud Switch, highlighting its role in transforming the payment ecosystem. The solution aims to simplify, streamline, and secure payment processes globally, showcasing Payment24’s commitment to advancing financial technology.
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