Electronic Payments is acquiring Handpoint to expand into Europe, gaining offices in the UK, Iceland, and Spain.
Handpoint’s tools include mobile payment acceptance, an embedded payments platform, a card-present gateway, and real-time transaction reporting.
The deal strengthens Electronic Payments’ mobile and embedded offerings, helping it compete with newer players like Stripe and Square.
New York-based Electronic Payments has agreed to acquire UK-based Handpoint for an undisclosed amount.
Handpoint was founded in 1999 to provide in-person payments tools. The company helps its customers accept payments on smartphones, tablets, and handhelds, and enables merchants to accept card payments securely. In addition to hardware, Handpoint also offers an embedded payments platform, a card-present gateway, and provides real-time transaction data that gives merchants in-depth reporting. Before today’s announcement, Handpoint had raised a total of $8 million, most recently pulling in $2.4 million in 2021.
Handpoint demoed at FinovateFall 2012 and FinovateEurope 2012, at the height of the mobile payment acceptance wave that Block (then Square) kicked off in 2010.
Electronic Payments was founded in 1998 and offers a network of POS value-added resellers (VARs), agent banks, sales agents, and independent sales offices (ISOs) to businesses across multiple industries. Among the company’s products are Cygma, a full-stack authorization and clearing platform; Exatouch, a full-featured point-of-sale device; and ProCharge Gateway, a virtual terminal that helps process and manage payments from one central location.
Handpoint will give Electronic Payments an immediate European presence, as Handpoint maintains offices in the UK, Iceland, and Spain, new territories for Electronic Payments. Integrating Handpoint’s tools could allow US merchants that require cross-border capabilities to tap into a single payments partner on both sides of the Atlantic. Additionally, Electronic Payments could integrate Handpoint’s embedded payments platform with its Cygma clearing system, which would facilitate a more omnichannel approach.
Purchasing Handpoint will also help Electronic Payments strengthen its mobile and embedded payments offerings. This will help it compete with the self-service model that new players, like Stripe and Square, offer.
Photo by Ivan Samkov
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