PayModum, an online payment gateway providing over 150 online payment methods, today announces its acquisition of Floid Inc., a Delaware-incorporated entity that holds direct relationships to enable local, instant online bank payments for merchants.
Jake Dovey, CEO of PayModum, commented, "The acquisition represents a huge step forward for PayModum, as it becomes a major participant in the rapidly growing, increasingly popular market for enabling instant online bank payments across the U.S."
With the increasing demand for instant payment rails, especially those providing account information services (i.e., DOB, name, address and other information required to verify the entity of the payee), the acquisition represents a significant improvement to current payment processes, which fail to provide such information. With regulation constantly evolving, it is now more important than ever for online merchants to support their business with a deeper understanding of the underlying payment information they collect, something that other payment methods simply do not provide.
Daniel Bessmert, Local Director at Floid, added, "As a local director of the business, we are excited to continue the growth of this exciting proposition to online merchants. We aim to deliver a market-leading payment experience, trust and reliability for end users and merchants. Whilst the U.S. is known for being a market driven by credit cards, we are seeing an increased uptake in the popularity of local bank payment."
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, e-wallets, 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. For more information, visit paymodum.com.
Media Contact
PayModum Marketing Team
marketing@paymodum.com
+40 767 283 635
