Beanstream Internet Commerce, Inc. a Victoria-based Payment Services Provider, today announced the closing of an acquisition by the Swedish fintech innovator, Bambora Group.
Beanstream – a provider of omni-channel payment processing, risk management and authentication services – was formally a wholly owned subsidiary of Digital River. The acquisition of Beanstream is a result of Bambora’s ambition to become a global player with a launch point in North America.
“Beanstream will continue to serve merchants in North America and the UK with credit card, debit card and bank transfer solutions but will now also be able to access a vast array of services from other members of the Bambora family” said Craig Thomson, President of Beanstream and Managing Director of Bambora North America.
“Bambora has acquired some of the world’s best payment innovators and now controls the full value chain in the payment lifecycle from the terminal / website through to settlement to the merchant. This is a tremendous differentiator in the market and allows merchants globally to work with a single service provider for all of their payment needs”.
*Transaction completed by WHA professional while at previous firm.