Irish fintech Paynt which specialises in 'tipping' technology makes Canadian acquisition
A payments firm founded in Cork which specialises in 'tipping' technology has continued a North American expansion with the purchase of a Canadian fintech which processes €2.2bn in transactions annually.
Paynt, led by Cork native Sam Kohli, acquired Canadian firm E-xact Transactions and is committed to another US acquisition by the end of 2025. Paynt now has operations spanning Ireland, the UK, the Baltics, the US, and Canada.
The company's Irish tipping technology has also delivered standout results for the hospitality sector, with venues like The Grafton Barber and Sober Lane reporting a 74% increase in tip revenue during December alone.
'With the opening of our new Vancouver office and this strategic acquisition, Paynt is entering an exciting new chapter, pushing the boundaries of innovation and cementing our position as a global leader in payment solutions,' said Sam Kohli, founder and board member of Paynt.
Mr Kohli said the acquisition of E-xact Transactions will enable them to deliver high-performance solutions but also expand its operations by offering omnichannel payment processing services throughout Canada.
'Our vision is to build a seamless and secure global payments ecosystem, empowering businesses of all sizes to grow, innovate, and thrive. We are entering the next stage of strengthening our presence in the North American market, expanding the frontiers of our innovation, and reinforcing Paynt's position as a global leader in payment solutions,' said Sam Kohli, founder and board member of Paynt.
The Canadian acquisition follows the recent opening of its new office in Connecticut and building on the momentum from its Irish headquarters in Dublin, established last year.
Paynt recently the firm won the prestigious Merchant Payment Ecosystem (MPE) Award for payment innovation in Berlin.
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