Rapyd, a London-based fintech, has completed the acquisition of Korta, an Iceland-based payment card service provider.
The agreement, originally announced in April, combines Rapyd, a company that allows gig economy firms, merchants and technology providers to launch e-commerce applications without the need to rebuild their payments infrastructure, with Korta, which gives merchants a range of in-store and e-commerce acceptance solutions.
“We are pleased to announce the completion of this strategic acquisition so we can begin to integrate Korta’s leading payment card servicing capabilities with Rapyd’s global fintech platform,” Arik Shtilman, CEO of Rapyd, said in a company release. “Rapyd’s vision is to extend the capabilities Korta currently provides by enabling Iceland and European businesses to quickly and easily accept a broad range of international payment methods both in-store and online.”
Rapyd plans to continue to build and invest further in Reykjavik, with plans for additional engineering, product, sales and customer service staff. Korta is a fully licensed European merchant acquirer and principal member of Visa and Mastercard.