PayModum, an online payment gateway providing access to over 150 online payment methods, today announces the completion of its acquisition of Floid Inc., a Delaware-incorporated entity that holds direct relationships enabling local, instant bank payments for merchants
Jake Dovey, CEO of PayModum, commented:
“The acquisition represents a significant step forward for PayModum, strengthening its position in the growing market for instant bank payments in the US.”
With the increasing demand for instant payment rails, particularly those providing account information services such as date of birth, name, and address for payee verification, the acquisition represents an improvement to current payment processes, which often lack access to this level of data.
As regulation continues to evolve, it is becoming increasingly important for online merchants to better understand and utilize the payment information they collect, which many traditional payment methods do not provide.
Daniel Bessmert, Local Director at Floid Inc., added:
“As a local director of the business, we are excited to continue the growth of this proposition for online merchants. We aim to deliver a reliable and trusted payment experience for both merchants and end users. Whilst the US is known for being a market driven by credit cards, we are seeing an increasing uptake in the use of local bank payment methods.”
For more information, visit www.paymodum.com
About PayModum
PayModum is a global payment gateway helping online merchants expand into new markets, improve payment performance, and increase acceptance rates. Through a single integration, the platform provides access to over 150 payment methods worldwide, including card payments, bank transfers, eWallets, and alternative payment methods. PayModum combines payment technology with hands-on industry expertise to help businesses simplify global payment operations and scale across international markets.
