Ayodeji Ayenuwa
South Africa’s global payments platform, Payment24, has invested in Inergy 24, a Swiss-based technology service provider.
The collaboration aims to extend Payment24’s comprehensive platform to customers across Europe, covering payment, fleet management, mobile and retail solutions, loyalty programs, electric vehicle (EV) services, and Cloud Switch solutions.
Expressing enthusiasm about this expansion, the joint CEOs of Payment24, Shadab Rahil, and Nolan Daniel, highlighted the potential of their platform. Rahil stated, “Our platform provides customers bound to unwieldy legacy payment solutions with an entirely reimagined digital solution that is quick and easy to deploy.”
This move allows Payment24 to better serve clients in Europe, addressing the increasing demand for white-label and infrastructure-agnostic solutions.
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Positioned as a crucial entry point for Payment24 into the European market, the investment in Inergy 24 includes the appointment of industry expert Alan McGown as the CEO of Inergy 24.
“The investment from Payment24 comes at a time when European businesses are hungry for a change from outdated, inflexible payment solutions,” stated McGown.
The partnership further involves ongoing investment and access to Payment24’s development, support, sales, and marketing teams.
Nolan Daniel emphasized the evolution of the Payment24 platform, stating, “Over the last three years, the Payment24 platform has grown from a fleet management and petroleum payments solution to an all-encompassing payments and transacting solution.”
Payment24, known for its stronghold in the payment and loyalty sector, particularly in the fuel industry, operates one of Africa’s largest private refueling networks.
The recent launch of Cloud Switch, a cloud-based payment and transacting solution, showcases the company’s commitment to constant modernization. Rahil explained, “Cloud Switch embodies our dedication to transforming the payment ecosystem.”
Ultimately, Payment24’s strategic investment in Inergy 24 marks a noteworthy expansion into the European market, showcasing the company’s dedication to innovation, scalability, and adaptability in the global payment landscape.
Techrectory with Agency Report.
