Global unified payments group Trust Payments has acquired Mobilize Systems, in a deal that will fast track the group’s product strategy and deepen customer insights. Trust Payments was founded over 20 years ago as a payment gateway and today has grown to a global omnichannel payments provider. Facilitating 1.6 bn transactions annually for over 7,000 clients, it recently opened a new UK operations hub in Harrogate, North Yorkshire, creating up to 15 new jobs.
Trust Payments’ acquisition of Mobilize, a UK-based mobile loyalty and customer engagement platform serving the retail and hospitality sectors, signals a new chapter for the group. Mobilize is a mobile-first provider of rich data to merchants seeking to develop customer engagement programmes, and its analytical capabilities will help Trust Payments build a 360-degree picture of customer interaction on their payment platform.
Harper James Solicitors helped to ensure the acquisition deal was delivered smoothly between the two parties, and corporate solicitor Stephen Evans, who specialises in M&A, led the process. Stephen worked with Trust Payments’ US-based in-house counsel on the acquisition deal, which was completed in July. Stephen commented: ‘We are delighted to have helped Trust Payments in this exciting new phase for their business. As with many of our clients, we worked closely with their in-house legal team to deliver important acquisition support.’
Alison Conway, a senior advisor at Trust Payments, said: ‘Our on-demand relationship with Harper James allows our in-house counsel instant access to specialist support. We relied on their valued guidance to get us through the acquisition process with accuracy and confidence.’
Over the past six months there has been an increase in the use of digital payments, especially via contactless. Financial services companies like Trust Payments have been able to capitalise on this opportunity. The timely acquisition of Mobilize will now enable the unified payments group to offer enhanced product journeys for customers, improved payment options, and better insight for businesses.
Daniel Holden, Chief Executive Officer of Trust Payments said: ‘Trust Payments’ vision is to help businesses optimise their sales and customer experience. To do this, merchants need real-time transactional data analysis combined with proper insight and help with understanding how customers engage and pay for products and services. That means a single source of truth, and simplified data visualisation. With the acquisition of Mobilize, we’re now able to differentiate our overall product offering by providing the building blocks we’ll need for a unique and competitive product portfolio, including options such as an integrated Smart POS and loyalty solution.’