Worldpay Group has invested in Pazien. Financial terms weren’t announced. Boston-based Pazien, a payments startup. Worldpay, a payments provider, is backed by Bain Capital and Advent International.
London / Boston, 14th May 2014 – Worldpay Group, a global leader in payment processing, risk and alternative payments, has made a strategic investment in Pazien Inc., an innovative start-up founded by industry veterans David Burrows and Jason Pavona, located in Boston, MA.
Pazien is creating products that simplify and demystify the payments ecosystem, which is becoming more complicated for businesses of all sizes around the globe to understand and manage. From selecting the optimal payment ecosystem partners and products for their business to maximizing the value of those solutions, the Pazien platform will ensure merchants efficiently and effectively leverage the payment ecosystem in a manner that previously has only been achievable by those companies willing and able to make large investments in payments operations.
Floris de Kort, CEO of Worldpay’s eCommerce division, said: “Our vision is to be the world’s most progressive and reliable payments partner, sharing our insights and expertise to ensure our customers prosper. Pazien’s veteran team mirrors this vision, combined with a proven history of innovation in payments technology and solutions that create value for merchants. During the past 18 months, Worldpay has invested substantially in its products and insight offering. It’s not often that we see real innovation in payments, but we believe that this is one of these times and we could not be more excited about this investment.”
Jason Pavona, CEO of Pazien, said: “The Payments Ecosystem continues to evolve and become more complicated for merchants and service providers. The need to clarify and automate the decision-making process, data aggregation and marketplace choices for merchants has never been greater. Worldpay’s global leadership, customer first philosophy and innovative approach towards building a payments marketplace of the future through a shared vision of universal access to data, analytics and services makes it the ideal partner for Pazien.”
Worldpay is a leading global provider of payment and risk services, processing millions of transactions every day. Worldpay is a unification of seven leading retail payment solutions and offers a range of services including acquiring, gateway, alternative payments, risk management, and mobile payments. Worldpay became an independent company in December 2010. www.worldpay.com