Online Payments Giant Paysafe to Acquire Income Access for $30.5 MillionPublished September 1, 2016 by Ivan P
The online payment solutions leader Paysafe will acquire affiliate solutions Income Access Group for $30.5 million.
Paysafe, a leader in online payment processing, will be acquiring Montreal-based Income Access Group at the price of C$40 million (around USD 30.5 million). Income Access deals with innovative affiliate technologies and performance marketing programs and represents a valuable addition to company's assets.
Purchase to Further Establish Paysafe's Market Position
Owning two of the biggest online payment processors in the world, Skrill (formerly Moneybookers) and Neteller, Paysafe already holds a dominant position in the online payments market. The move to purchase Income Access will see that position established even further.
Affiliate solutions provided by the Montreal-based company will enable Paysafe to offer their merchants new and improved ways of doing business, which is one of company's main strategic goals.
The Paysafe's President and CEO Joel Leonoff explained that adding value for their merchants was one of Paysafe's primary objectives, trying to redefine and improve the role of a payment provider.
Income Access Founder Stays with the Company
Nicky Senyard, Income Access founder and CEO, will stay with the company, taking on the role of the Managing Director. Senyard emphasized that this is an important development for his company as well, since these two business entities can achieve a lot together.
Income Access has a large network of affiliate partners across the globe. These partners will now be able to benefit from the versatile Paysafe payment offers, creating a win-win situation for both companies.
Proving their value and desirability on the affiliate market, the Montreal company has recently entered a partnership with e-sports betting company VGambling. The company will integrate Income Access solutions into their platform, offering their affiliates an improved interface to track their programs and campaigns.
VGambling affiliates will not only have a better overview of their activities but the new platform will let them create specialized, highly targeted ad campaigns which stand to provide much higher conversion rates.
With a product like that, it is not hard to understand why Paysafe wanted to have Income Access Group as a part of the company.