WorldPay to Acquire Envoy Services
Global payments provider WorldPay is set to acquire Envoy Services, a provider of alternative payment solutions to ecommerce merchants. Established in 2005, Envoy is a UK FSA-regulated global payments service that offers single point access to popular local payment and collection services worldwide. The company provides international ecommerce merchants with a broad coverage of alternative payment acceptance through a global network of over 200 local bank accounts and 40 alternative payment services, as well as a fraud screening service.
Following the acquisition, Envoy will continue to operate its current business model, and the existing Envoy management team will join the senior leadership of WorldPay’s ecommerce business unit.
The acquisition of Envoy is expected to close in May 2011, after customary approvals, and comes six months after private equity firms Advent International and Bain Capital formally completed their acquisition of WorldPay from The Royal Bank of Scotland (RBS) Group.