US-based Velo Payments is set to acquire YapStone, a payment processing platform for the short-term and vacation rental industry.
Facts
- YapStone, founded in 1999, is a California-based payment processing platform.
- Velo Payments, founded in 2017, offers a global payments platform with real-time transaction data and various payment methods.
- The acquisition process will commence this quarter, pending regulatory approvals and customary closing conditions.
- Velo Payments aims to combine its open banking platform with YapStone’s licenses to enhance payment experiences and simplify cross-border payments.
- CEOs of both companies express their enthusiasm for simplifying and optimizing payments in various industries.
