Paynt, a Latvia-based international payment technology company founded by Sam Kohli, has announced its acquisition of the Canadian firm E-xact Transactions.
This landmark move marks a focused step in Paynt’s global expansion, particularly in North America, following the recent opening of its new office in Connecticut and building on the momentum from its Latvian headquarters in Riga.
With roots in Riga, Paynt has grown into a global fintech innovator, now expanding its reach into Canada through the acquisition of E-xact Transactions – a firm processing over CAD 3.5 billion and 50 million transactions annually.
Commenting on Paynt’s latest expansion, founder Sam Kohli said: “With the opening of our new Vancouver office and this strategic acquisition, Paynt is entering an exciting new chapter, pushing the boundaries of innovation and cementing our position as a global leader in payment solutions,” said Sam Kohli, Founder and Board Member of Paynt.
“Our vision is to build a seamless and secure global payments ecosystem, empowering businesses of all sizes to grow, innovate, and thrive. We are entering the next stage of strengthening our presence in the North American market, expanding the frontiers of our innovation, and reinforcing Paynt’s position as a global leader in payment solutions,” said Sam Kohli, founder and board member of Paynt.
The E-xact Transactions payment gateway ensures encrypted data protection and processing while allowing seamless integration with various payment methods and e-commerce platforms, including Shopify, Magento, and WooCommerce, enabling customers to pay online quickly and securely.
Mr Kohli said the acquisition of E-xact Transactions will enable them not only to deliver high-performance solutions but also expand their operations by offering omnichannel payment processing services throughout Canada.
Paynt’s innovative solutions, including its market-leading cashless tipping platform, have already made a significant impact on the Latvian hospitality and service sectors. Paynt’s investment in Latvia goes beyond technology; the company has been a consistent supporter of the Latvian hospitality industry through sponsorships and partnerships with industry bodies.
Just recently, the firm won the prestigious Merchant Payment Ecosystem (MPE) Award for Payment Innovation, notably beating out major industry players such as Mastercard. This accolade, secured in Berlin, solidifies Paynt’s position as a disruptive force in the global payments landscape.
With the acquisition of E-xact Transactions – renowned for its high-performance, secure online payment gateways compatible with leading e-commerce platforms – Paynt is poised to replicate its success in the North American market. This move will allow Paynt to offer integrated, scalable payment solutions to merchants and hospitality businesses across the continent, empowering them with seamless processing capabilities and compliance with evolving financial regulations.
With a robust presence in Latvia, Lithuania, Estonia, Ireland, the UK, the USA and now Canada, Paynt continues its trajectory of growth, committed to empowering businesses with transparent, secure and scalable payment solutions.
About Paynt
Founded in 2014, Paynt is a European payment technology company specializing in POS solutions, tipping systems, and integrated financial services. The company serves the hospitality and retail sectors with robust infrastructure and a suite of innovative payment products.
For further information about Paynt and its innovative solutions, visit paynt.com.
About E-xact Transactions
E-xact is a trusted platform serving bank partners, ISVs, and merchants. Known for its high-performance payment APIs and robust support for both e-commerce and unattended environments. E-xact is a proven, enterprise-grade gateway operating for over 25 years.
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