Klik&Pay - The Payment Company - has acquired Munich payments start-up Paymill. As of April this year it became clear that Paymill was in financial trouble and had to enter a 'strategic insolvency' procedure. Klik & Pay, the online payment platform brand of CYBERservices SA, offers since 2000 to e-merchants worldwide a safe and simple payment solution.
Klik & Pay
Through the Klik & Pay platform merchants can cash in many currencies and across all major international and local payment instruments- both from their website and mobile application. CYBERservices Switzerland is registered as an e-Money Institution, while its subsidiary in Luxembourg, is regulated at a European level, licensed under the CSSF. In its strategy of internationalization, CYBERservices SA also opened late 2015 a subsidiary in the USA.
New Technology, Markets and Customers
The start-up Paymill, founded in 2012, brings to this partnership, besides its technology, a large portfolio of satisfied customers and users. Whilst Klik & Pay brings Paymill a crucial missing tool: its regulatory status and establishment to form a strong and powerful partnership.
Daniel P. Georges, Klik & Pay founder, said: "We onboard with us- with Paymill, an innovative company that will help us in servicing new markets and that will enable us to target new markets. Paymill already has significant experience and convinced us by the great commitment and passion they have shown in the field of payments".
'Best future possible'
Founder and CEO of Paymill, Mark Henkel, explains his new shareholder choice: "Following the publication of our insolvency procedure, we received some buyers’ offers. We interacted with the potential partners because we wanted that things not only look good on paper but to provide the best future possible to Paymill. Klik & Pay strategic approach as its vision and objectives, fitted perfectly with ours and we look forward to future cooperation".
Provide simpler payment experience
For both Klik & Pay and Paymill customers nothing changes. The current product offering will continue to be delivered and enhanced. We will of course need a few weeks to “gel” and implement joint projects. Our common goal is to provide consumers the simpler payment experience, no matter their environment. As well as enable e-merchants to build on a major technological and financial partners so they can fully concentrate on their business.
The company was founded in 2000 in the suburbs of Lausanne, Switzerland. Since then the company has grown into establishing itself as a recognized PSP in Switzerland and neighboring countries. Their market share acquisition has lead them to be regulated by FINMA at a Swiss level and by the CSSF (since February 2014) for the entire SEPA activities.