Mastercard (NYSE: MA) acquired Vyze, an Austin, TX-based financing technology company for retailers.
The amount of the deal was not disclosed.
Led by Keith Nealon, CEO, Vyze provides a cloud based platform that connects merchants with multiple lenders, allowing them to offer their customers a wide range of credit options online and in-store. These financing options provide shoppers with additional payment flexibility at the exact moment of purchase, complementing Mastercard’s existing card and ACH-based solutions.
Several top U.S. retailers work with Vyze for special financing options.
The company has raised approx. $50m in funding from Austin Ventures, Fathom Capital and Starvest Partners.
Mastercard (NYSE: MA) provides a global payments processing network connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Its products and solutions enable everyday commerce activities – such as shopping, traveling, running a business and managing finances, secure and efficient.