wallee joins forces with VR Payment.
The European payments market offers enormous growth opportunities. wallee will exploit this potential by joining forces with VR Payment, the payment specialist of the German cooperative financial group. At the same time, both partners are strengthening this cooperation through an equity investment by VR Payment in Wallee Group AG. Together, they want to expand their market coverage and support internationally active retail and service companies in other EU countries. They are thus positioning themselves for an increasingly integrated European market.
The EU is promoting market liberalization, which is creating new competitors in the financial services sector. This leads to an increasing demand for cross-border, user-friendly embedded payment and finance solutions. The Wallee Group and VR Payment share the vision of a modern, flexibly expandable payment platform. Wallee specializes in integrated financial services and offers a cloud-based platform that enables cross-channel payment acceptance throughout Europe. More than 60 of wallee's 120 employees are software engineers. This gives wallee significant development capacity to react quickly and flexibly to market needs. wallee will contribute this innovative strength to the cooperation as well as to new strategic projects.
While wallee delivers technological excellence and innovative capability, VR Payment contributes its strong cooperative structure, which is focused on long-term business models and partnerships, and its profound acquiring expertise.
"VR Payment is the payment specialist of one of the most important banking groups in Germany with great expertise and experience in the corporate customer business. We complement each other perfectly here. We therefore very much welcome VR Payment's entry into our company. Not only do we gain access to one of the largest markets in Europe, important know-how and extensive experience in the POS business, but we are also indirectly linked to an ambitious banking group that plays a leading role in the development of the European payments landscape. The Wallee Group, in turn, has all the necessary pan-European licenses and certifications to offer payment and financial services to merchants throughout the SEPA area. Together, we will be able to expand our portfolio and support our customers in an increasingly digitalized European market," says Thomas Heldner, CEO of Wallee Group AG.
Carlos Gómez-Sáez, CEO of VR Payment, comments on joining the Wallee Group AG: "We have been working very successfully with wallee in Switzerland for over twelve months. We have always been impressed by wallee's technological expertise and the robustness of its infrastructure. But in particular, the great cultural fit between wallee and us has prompted us to jointly develop use cases that go far beyond the existing cooperation. We are certain that we have found the right partner in wallee for the implementation of our further growth strategy and have therefore also decided to invest."
VR Payment's participation is subject to approval by the supervisory authorities.
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wallee is a highly technology-driven and fully licensed omnichannel payment service and embedded finance provider across all channels and based on an intelligent cloud solution. Founded in 2019, the company is headquartered in Winterthur, Switzerland, and has offices in five countries in Europe, including Germany, Luxembourg, Lithuania and Poland. More than 120 specialists are responsible for over 250 million transactions, 80,000 terminals distributed to around 50,000 customers. At wallee, all payment flows come together on one platform and can be easily managed and integrated. In addition to a wide range of payment methods, including country-specific alternative methods, the services are supplemented by automated onboarding, billing accounts and credit card issuing. Numerous plugins allow the solution to be integrated into payment terminals and store systems such as Shopify, WooCommerce and many more. In addition, #homeofpayments has pan-European licenses and certifications and offers collection and embedded finance services to merchants throughout the SEPA area.
VR Payment is one of Germany's leading payment providers and, as a member of the DZ BANK Group, the only full-service provider in the hands of banks. As a specialist in cashless payments for the Volksbanken-Raiffeisenbanken cooperative financial network, VR Payment offers all payment services from a single source: from network operation, suitable terminals and card acceptance to APMs, payment solutions for apps and e-commerce through to marketplace solutions and issuing processing. They thus address the needs of different business models, sizes and sectors - from the bakery around the corner to the soccer stadium. From successful nationwide mobility providers to international fast food chains. VR Payment is responsible for around 286,000 terminals and 6.2 million credit cards. The company processed 845 million transactions in its network operations in 2023. Around 450 employees work at the Frankfurt am Main and Ettlingen sites.
