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HomeBankingVelo Payments to acquire payment processing platform YapStone

Velo Payments to acquire payment processing platform YapStone

Date:

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.

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