Hyderabad-based Paynear Solutions acquires Singapore firm to go global

Deal gives acquirer instant access to markets across 16 countries due to GoSwiff's existing relationship with banks in Asia, Europe and Africa

Hyderabad-based payment transaction processing company Paynear Solutions today announced the acquisition of Singapore-based financial technology firm GoSwiff International Private Limited for an undisclosed sum, using mostly debt and cash.

The acquisition gives Payneat instant access to markets and clients across 16 countries on the back of GoSwiff's existing relationship with banks in Asia, Europe and Africa.

The five-year-old omni-channel payment solutions firm has so far deployed 80,000 point-of-sale (PoS) machines in the country besides offering bill invoicing, GST return filing among other associated services to those retail clients. The company expects to achieve Rs 110 crore revenues in the current year