South Africa’s Payment24 acquires Swiss firm in Europe expansion
Payment24, a global payments platform provider specializing in payment and loyalty solutions, has recently disclosed a strategic investment in Inergy24, a technology service provider headquartered in Switzerland.
This collaboration is strategically designed to extend access to the comprehensive Payment24 platform across Europe, offering a wide range of services including payment solutions, fleet management, mobile and retail services, loyalty programs, electric vehicle (EV) services, and Cloud Switch solutions.
Founded in 2013 by Nolan Daniel and Shadab Rahil, Payment24 has established a significant presence on five continents and operates in 18 countries. Notably, the company originated as a digital fuel management and telematics platform and has evolved into a major player in the global payment and loyalty solutions space. Payment24 presently operates one of Africa's most extensive private refueling and fuel loyalty networks, with billions of liters of fuel transacted through its platform annually.
Key Takeaways
The investment in Inergy24 serves as a pivotal entry point for Payment24 into the European market, strategically addressing the growing demand for its white-label and infrastructure-agnostic solutions. The move enhances Payment24's scalability, enabling the company to better cater to multinational clients and effectively support the global expansion of its platform. This collaboration is poised to further solidify Payment24's position as a key player in the global payments and loyalty solutions landscape. As part of this collaboration, Payment24 has appointed industry expert Alan McGown as the CEO of Inergy24. Additionally, joint CEOs Rahil and Nolan Daniel from Payment24 will serve on the company's board. To enhance Inergy24's operations, Payment24 will provide ongoing investment and access to its platform, along with support from its development, sales, and marketing teams.
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