07 Mar

Optal to Acquire B2B Payments Business Invapay

  • Posted by Optal

Combined business will have a unique, comprehensive B2B payments solution offering.  

Tuesday, 7 March 2017, London: Global business-to-business payment solutions provider and virtual card specialist Optal, today announced the acquisition of innovative payments company Invapay, in a deal which will significantly expand Optal’s capabilities in the global corporate payments space.

Invapay enables corporate buyers to use credit cards to pay suppliers who historically have not accepted card payments.  Invapay’s technology platform seamlessly integrates with the buyer’s existing enterprise resource planning systems (ERP) through a simple plug and play payment API.  Once integrated, the solution delivers a secure, data rich automated payment solution, with suppliers paid via EFT, eliminating the need to sign up to a merchant facility to receive payments by credit card.

The Invapay solution enables corporate buyers to obtain the extended payment terms of traditional card payments, while effecting automated, secure and efficient payments to non-card accepting suppliers, in any location across the world in any currency.

Sid Vasili, the founder and CEO of Invapay and his experienced team will remain with the Invapay business post acquisition, to continue its exciting growth. The acquisition is subject to FCA approval in the UK.

Optal CEO Rob Bishop says:

“The acquisition of Invapay enables Optal to deliver a one-stop-shop for corporate B2B payables needs.  Combined with our existing highly successful virtual payment solutions including virtual account numbers or VANs, Invapay completes our product offering, enabling us to offer genuine ‘pay anyone, anywhere’ capabilities.”

“Solving payment acceptance issues and optimising working capital for customers is crucial for successful payments solutions in the procurement industry and Invapay are the leaders in this space.”

“We’re delighted that the Invapay team are joining us to continue our remarkable growth.”

Invapay CEO, Sid Vasili says:

“The Invapay and Optal businesses are a great fit.  This transaction will ensure that the Invapay business has the resources and capabilities to meet our global growth aspirations.  People talk about ‘procure to pay’ but no one really manages the ‘pay’ part very effectively.  The team at Optal share our vision for solving that problem.”

About Optal Ltd

Optal is re-inventing how payment processes work across complex industries.  By stripping payment processes of their customary inefficiency, Optal helps companies boost profitability across a growing number of sectors around the world.

Optal issues Mastercard® branded payment products, driving its focus on developing and bringing to market, game-changing payment solutions.

For more information about Optal, visit http://www.optal.com

About Invapay

Invapay is a UK based payment technology company. They offer an efficient, flexible way to manage payments and working capital and are connected to over 800 banks. Invapay operates across three continents, processes all major currencies and provides a flexible payments alternative that ensures long-term buyer and supplier benefits.

The cloud-based solution can be operational in 24 hours, which provides more access to credit lines at the flick of a switch. The enhanced transaction data enables efficient processing and reconciliation of payments. This enables CFOs to be confident of financial control and compliance.

For more information, visit http://www.invapay.com

Contact details
Rob Bishop
Managing Director
Optal Ltd

Sid Vasili

Bradley Eccleshare
Director of Marketing
Optal Limited

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Regulatory Information

Optal Limited is registered in England & Wales No. 5531282. 17 Moorgate, London, EC2R 6AR.

Optal Financial Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register Number: 900112) for the issuing of electronic money.

Optal Asia Limited is licensed in Hong Kong as Stored Value Facility Issuer (Licence number SVF0006), regulated by the Hong Kong Monetary Authority.

Invapay Payment Solutions Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (Register Number: 631411) for the provision of payment services.

Optal Financial Limited, Optal Asia Limited and Invapay Payment Solutions Limited are wholly owned subsidiaries of Optal Limited.

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