Visa to Acquire TrialPay
Visa Inc. (NYSE:V) , announced an agreement to acquire TrialPay, a privately held company with an offers platform that connects merchants with millions of consumers through targeted promotions. As a payments technology partner to merchants globally, Visa will integrate TrialPay into its product portfolio as a simple, cost-effective way to help merchants acquire customers, drive traffic, and increase sales by reaching Visa cardholders with targeted offers.
Visa is focused on building deeper merchant relationships, providing them with solutions that can serve their complex and varied needs. This includes products and services that can help merchants grow sales, reduce risk, streamline operations, and drive loyalty. TrialPay’s technology will strengthen Visa’s merchant offers capabilities and accelerate its ability to drive commerce opportunities through highly customized, real-time offers to cardholders. Additionally, by integrating TrialPay’s technology with existing Visa network assets, merchants will be able to receive more timely and valuable customer insights through Visa’s data and analytics capabilities.
“This acquisition aligns with Visa’s strategy to work more closely with merchants, developing solutions that help them to grow their businesses and build stronger customer relationships,” said Ramon Martin, senior vice president, merchant sales and solutions, Visa Inc. “TrialPay will strengthen our loyalty and offers platform, which we expect to become a strategic and competitive differentiator that can help merchants build customer loyalty and increase sales in both the digital and physical retail environments.”
Visa’s current suite of merchant solutions and services focuses on helping merchants:
- Grow Sales and Loyalty: A full set of product offerings that enhance customer engagement and loyalty via highly-targeted marketing solutions, offers, and rewards programs. Visa’s analytics and consulting services also provide merchants with timely market insights and campaign measurement capabilities.
- Build Omni-Channel Commerce Experiences: A diverse set of tools, ranging from Visa Checkout to Visa payWave, that help merchants offer seamless, streamlined payment experiences across commerce channels including mobile, eCommerce, and brick-and-mortar.
- Reduce Risk: A suite of capabilities that help minimize risk through enhanced customer authorization, risk monitoring and fraud analytics, and with the ability to provide for a secure experience across different form factors.
TrialPay has approximately 60 employees and is headquartered in Mountain View, California. The acquisition is expected to be completed in Visa’s fiscal third quarter 2015, pending satisfaction of customary closing conditions including regulatory approvals. The financial terms of the acquisition are not being disclosed.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks – VisaNet – that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
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