The Payments Group Holding GmbH & Co. KGaA / DE000A1MMEV4
24.10.2024 - 14:30:05FinMont Announces Strategic Partnership with Leading Payment Provider, The Payments Group
| The Payments Group Holding GmbH & Co. KGaA / Key word(s): Alliance 24.10.2024 / 14:30 CET/CEST The issuer is solely responsible for the content of this announcement. +++ Press release +++ FinMont Announces Strategic Partnership with Leading Payment Provider, The Payments Group Frankfurt/Main, 24 October 2024 – The Payments Group, the newly formed operating unit under the umbrella of The Payments Group Holding, has announced its strategic partnership with FinMont: Berlin, 24 October 2024 – FinMont, a global payment orchestration platform, today announced a strategic partnership with The Payments Group (TPG), a leading payment solution provider. This collaboration aims to enhance FinMont’s payment ecosystem by integrating TPG’s innovative cash and evoucher payment solutions, offering more flexibility and improved payment capabilities for FinMont's global network of travel industry merchants. The founders of German airline, Hahn Air, launched FinMont to offer the travel industry a unique solution that, unlike other options available, streamlines not only B2C payments but also B2B payments. Combining both payments into a single view will help decision-makers identify and fix inefficiencies in their current payment processes. The Payments Group was established by a team of payment industry veterans, and has revolutionised cash payments for e-commerce. Its CashtoCode service simplifies the process of making secure cash payments for online merchants and their customers. This service is recognised for its speed, simplicity, and accessibility, ensuring that cash payments remain a viable and inclusive option in the digital economy. With this new partnership, FinMont will integrate TPG’s cash payment and e-voucher solutions into its global payment ecosystem. This move will provide FinMont’s international travel merchants with more diverse payment options, ensuring they can cater to a broader customer base while reducing payment processing complexities. Suby Valluri, CEO of FinMont commented on the partnership, saying, "We are excited to join forces with The Payments Group to offer our merchants even more flexibility in payment solutions. Cash payments continue to play a crucial role in many parts of the world, and by integrating CashtoCode, we can help travel merchants reach more customers, reduce friction in payment processes, and ultimately drive growth.” Jens Bader, The Payments Group CEO and founder, added, "Our partnership with FinMont enables us to bring our innovative cash and evoucher payment solutions to a wider range of travel merchants. We give merchants all the resources they need to succeed in the competitive world of ecommerce and start taking payments as quickly as possible. Working together with FinMont, we aim to streamline and enhance the entire end-to-end payment process." About The Payments Group The Payments Group ("TPG") is a dynamically growing, vertically integrated e-money fintech company. TPG provides closed and open loop branded and white-labelled prepaid (e-money) payment services to hundreds of online merchants worldwide. The company provides a scalable fintech platform. This platform enables online merchants to access previously untapped cash and prepaid markets and embedded financial products, expanding their Total Addressable Market (TAM) and increasing their revenues. TPG operates internationally and works with a number of global leading online merchants across various industries. TPG customers can use more than 550,000 point of sale cash payment stations and a global online prepaid card network to process cash and cashless online payments. TPG employs more than 50 people worldwide. About FinMont FinMont is an end-to-end omnichannel travel payment management platform. The founders of German airline, Hahn Air, launched FinMont to offer the travel industry a unique solution that, unlike other options available, streamlines not only B2C payments but also B2B payments. Combining both payments into a single view will help decision-makers identify and fix inefficiencies in their current payment processes. The firm’s mission is to help travel merchants use payments as a strategic tool to stand out from their competitors. About The Payments Group Holding The Payments Group Holding (PGH) is a listed holding based in Germany with majority shareholdings in four operating FinTech companies and a venture capital provider based in Frankfurt/Main. Funanga AG, Campamocha Ltd with its 100%-owned entities TBWS Ltd and Calida Financial Ltd as well as Surfer Rosa Ltd form a fast-growing, vertically integrated e-Money Fintech group of companies – The Payments Group (TPG). TPG provides proprietary closed and open (branded and white-labelled) prepaid payment services to hundreds of online merchants worldwide. The synergy between these companies positions TPG as the future market leader in embedded finance and prepaid solutions. Calida Financial is the regulated company within TPG, having received an e-money license from the Malta Financial Services Authority (MFSA) in August 2024. This license entitles Calida Financial Ltd. to offer innovative e-money services and products across Europe. TPG employs over 50 people and operates globally. TPG’s customers make use of more than 500,000 POS cash payment stations and the global online prepaid card network to process cash and cashless online payments. From its history as a leading German venture capital provider under the German Startups Group brand, The Payments Group Holding also holds a heritage portfolio of minority stakes in partly promising German startups via its wholly owned subsidiary German Startups Group VC GmbH. For more information about The Payments Group Holding, please visit www.tpgholding.com. Investor Relations Contact Rosenberg Strategic Communications Dirk Schmitt d.schmitt@rosenbergsc.com +49 170 302 8833 24.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | The Payments Group Holding GmbH & Co. KGaA |
| Senckenberganlage 21 | |
| 60325 Frankfurt/Main | |
| Germany | |
| Phone: | +49 69 348690520 |
| Fax: | +49 69 348690529 |
| E-mail: | ir@tpgholding.com |
| Internet: | https://tpgholding.com/ |
| ISIN: | DE000A1MMEV4 |
| WKN: | A1MMEV |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange |
| EQS News ID: | 2015607 |
| End of News | EQS News Service |
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