WorldPay Acquires SecureNet, Will Leverage Omnichannel Technology
Nov. 13, 2014
London-based acquirer and processor WorldPay this week revealed it has agreed to acquire Austin, Texas-based processor SecureNet. The companies, which expect the deal to close before the end of next month, said the announcement is the culmination of two years of discussions about the vision of commerce in general moving toward an omnichannel experience, according to Tony Catalfano, CEO of Worldpay US.
“Consumers are completing transactions, paying people and conducting commerce in a very different way today,” Catalfano told CardNotPresent.com. “At WorldPay we were heavily investing in creating the services and technical support to help software developers, many who run big POS systems, think about how to expand, how they went to market, how they thought about data, how they thought about knowing their customer and getting beyond legacy transaction sets. We were looking into building out that technology when I met [SecureNet CEO] Brent [Warrington]. He had already done a great job of fulfilling that vision from a product perspective, building a technology stack that was three to four years ahead of anyone else.”
Catalfano is talking about SecureNet’s single stack of APIs, launched this summer , that enables merchants to reconcile transactions from all channels on the back end using a single platform.
“When we started to talk together, it turned very quickly to the combination of their technology and the capability they built, which stretches the envelope about how to think about customer interaction, and our global reach and distribution,” he said.
SecureNet’s 100 employees will all be retained, along with the entire operation and office in Austin, Catalfano said. WorldPay plans on nearly tripling the SecureNet development team, scaling the platform and getting it out through its extensive distribution network, starting in the U.S., during the first quarter 2015. Financial terms of the deal were not disclosed.