Param agrees to initiate legal proceedings to acquire Paycore and its subsidiaries
Param, Turkiye’s largest and most valuable fintech, has initiated the legal processes, including the approval procedures at the relevant authorities for the transfer of shares and acquisition of Paycore, the Flagship Global Fintech and Payments Services company, and its subsidiaries.
With a workforce over 400, PayCore provides technology infrastructure and financial software solutions to more than 250 banks, financial institutions, telecom operators and international companies. As a financial technology company, Paycore exports its products and services to over 30 countries. With its core product Ocean, Paycore successfully processes 3 billion transactions annually.
With its 22 years experience, Paycore is a major global service provider for the leading card schemes and manages critical payment processes. In addition to its operation and development centres in Istanbul, Paycore also provides services in the United States, United Kingdom and Dubai.
As the pioneer of the payment industry, Param’s aggressive growth strategy centres around developing its own technology and products and the acquisition of Paycore further strengthens this strategy.
With its strong and resilient financials and international investors, Param has acquired a tremendous success momentum and continues to attract the attention of international investors. Param will assist and strengthen Paycore in achieving its global expansion objectives.
Param emphasizes that it will disclose significant developments that will generate excitement for Turkiye’s fintech transition before the end of 2023.
Param eagerly awaits the approval processes from the legal authorities to add 450 new colleagues through the acquisition of Paycore, in addition to its existing workforce of over 1000. Paycore’s customers and employees will soon discover the innovations of Param’s world that offer more than just money.
Param believes that this acquisition will bring additional value to the payments industry and the overall economy.
Source: https://fintechtime.com