First Data (NYSE:FDC), has acquired ayCash, a Germany-based provider of cashless payment terminals and digital merchant services. A First Data representative said ayCash has a growing client base, serving the increased demand for cashless technology in Germany and the region.
Founded in 2008 by Hans Hezel, ayCash operates digital properties, YesCash and Cash4Less, and offers technical solutions for Girocard and credit card acceptance to DACH-based merchants. ayCash is based on the concept of being a “virtual company” – without fixed offices or employees.
Hans Hezel, Founder of ayCash, issued a statement in a release:
“I’m extremely enthusiastic about this deal as it will be tremendously positive for both companies. As part of First Data we will be able to further improve our products and services and therefore grow our customer base in Germany, Austria and Switzerland.”
John Gibbons, Executive Vice President, Head of EMEA & Co-Head of Global Financial Solutions at First Data said their recent surveys of cashless trends in Germany revealed that as many as 54% of German consumers expect cash to become obsolete in as little as a few years.
First Data serves approximately six million business locations and more than 3,700 financial institutions in more than 100 countries around the world.