Electronic Payments Expands Horizons with Handpoint Acquisition
Electronic Payments, Inc. (EPI), a leader in payment processing known for its Cygma® authorization and clearing platform, has made a significant move by acquiring Handpoint, a key player in mobile and integrated payments. This strategic acquisition enables EPI to strengthen its foothold in global markets, delivering advanced solutions tailored for independent software vendors (ISVs), software-as-a-service (SaaS) platforms, and various merchants.
Unifying Technologies to Drive Innovation
The merger of EPI's agent, ISO, and ISV-first business model with Handpoint's developer-focused technology paves the way for a comprehensive and seamless payment solution. This unification creates a payment stack that is not bound by geography, ensuring that ISVs and merchants can achieve operations with one simple integration, regardless of their location.
Vision and Growth
Michael Nardy, Founder and CEO of EPI, expressed the company's vision, stating, "Our aim from the start has been to control the payment pathways. Handpoint extends our capabilities worldwide, whether through an app, a smartphone, or a smart terminal." This expansion allows EPI to offer immediate services to POS and ISV partners in numerous markets internationally, overcoming the limitations faced by many competitors focused solely on local operations.
Driving Development and Support
Handpoint has been at the forefront since 2014, delivering card-present APIs designed for scalability. These tools empower enterprise software developers to integrate payment solutions across diverse and complex infrastructures, fostering exceptional omni-commerce experiences for their clients. David Gudjonsson, the CEO of Handpoint, noted that this collaboration aligns perfectly with EPI’s approach, enhancing developer experiences while ensuring a quick pathway to global market entry without significant additional costs.
Strategic Benefits of the Acquisition
This acquisition offers profound advantages. First, EPI can now provide a global footprint with local settlements. The multi-currency gateway expands processing capabilities into Canada, Europe, and Africa, allowing transactions in over thirteen currencies with a single contractual agreement. Additionally, this developer-first embedded platform not only speeds up integration times but also partners with diverse hardware while keeping merchants outside the PCI DSS realm.
Creating Global Access through APIs
The integration also means that POS providers can use a single REST API or an Android/iOS SDK, enjoying a straightforward global deployment without needing to adjust for region-specific standards that often complicate software updates.
Empowering ISVs and ISOs
The flexibility offered by EPI and Handpoint allows ISOs and ISVs to manage branding and deployment of smart terminals at scale. This suits various environments, from robust enterprise setups to small merchant operations, enabling significant growth opportunities in different sectors.
Immediate Outcomes from the Acquisition
The effects of this acquisition are almost immediate, bringing over 100 ISV integrations, approximately 18,000 connected devices, and a staggering $2 billion in annual payment volume to EPI's already extensive portfolio. EPI’s partners can now harness these consolidated resources and technologies for international operations seamlessly.
About Electronic Payments, Inc.
Founded in 2000, Electronic Payments is dedicated to simplifying payment processing. Their product offerings, including Cygma®, Exatouch®, TableTurn®, and eGiftSolutions®, are pivotal in aiding over 60,000 merchants and 1,500 partners, assuring rapid payouts and direct ownership without intermediaries. The future looks bright as EPI continues to innovate and expand its services globally.
About Handpoint
Since its inception, Handpoint has been creating solutions that neatly integrate payments across various platforms, without the need for extra hardware and complicated recertifications. Its robust set of APIs and cloud-managed terminal offerings have made it a go-to solution for partners looking to simplify payments while expanding their reach across North America, Europe, and Africa.
Frequently Asked Questions
What is the significance of Electronic Payments acquiring Handpoint?
The acquisition allows Electronic Payments to expand its global market presence and deliver integrated payment solutions to a wider range of clients.
How does this acquisition benefit ISVs and merchants?
ISVs and merchants will gain access to a streamlined payment stack that operates across regions without the need for extensive changes in existing code or hardware.
What technologies does Handpoint provide to EPI?
Handpoint offers developer-focused APIs and cloud-managed solutions that enable seamless integration of payment systems for various applications.
What impact will this have on EPI’s operations?
The acquisition is set to enhance EPI’s operational capabilities, enabling it to support a larger client base with more robust payment solutions across multiple currencies.
Will Handpoint employees join Electronic Payments?
Yes, all Handpoint employees will remain with the restructured organization to further drive growth and integration efforts.
