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Payments Technology Services

Founded Year

2007

Stage

Acquired | Acquired

Valuation

$0000 

About Payments Technology Services

Payments Technology Services is a payments solutions company specializing in Banking and Financial Services. The company is based in Hong Kong.On January 14th, 2021, Payments Technology Services was acquired by Tech Mahindra.

Headquarters Location

Hong Kong

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Latest Payments Technology Services News

Tech Mahindra to acquire Payments Technology Services Ltd

Jan 14, 2021

January 14, 2021 Tech Mahindra is planning to acquire Payments Technology Services Limited. The company is headquartered in Hong Kong and has approximately 109 employees. Payments Technology Services Limited was established in March 28, 2007 and is a payments solutions provider with a Banking and Financial Services (BFS) focus. The turnover of PTSL for the financial year ended 31st December, 2019, was USD 5.4 million. The entity is a stepdown subsidiary of Fidelity Information Services (FIS). The acquired capabilities in the payments space will give Tech Mahindra access to IPs and licenses for 2 products, which is consistent with its strategy of pivoting the business towards product and platform implementations and participating in the banking transformation programs. This acquisition will open up other opportunities for Tech Mahindra as a larger partner with FIS across a number of areas. The cost of acquisition is USD 9 million and the transaction is expected to close by 31st March, 2021. Arya

Payments Technology Services Frequently Asked Questions (FAQ)

  • When was Payments Technology Services founded?

    Payments Technology Services was founded in 2007.

  • What is Payments Technology Services's latest funding round?

    Payments Technology Services's latest funding round is Acquired.

  • Who are the investors of Payments Technology Services?

    Investors of Payments Technology Services include Tech Mahindra.

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