Tuesday 7th March, 2017
Global business-to-business payment solutions provider and virtual card specialist Optal, has announced the acquisition of Invapay.
The acquisition of UK based Invapay will enable Optal to deliver a one-stop-shop for corporate B2B payables needs.
The Invapay solution enables corporate buyers to obtain the extended payment terms of traditional card payments, while effecting automated, secure and efficient payments to non-card accepting suppliers, in any location across the world in any currency.
Optal CEO Rob Bishop says: "The acquisition of Invapay enables Optal to deliver a one-stop-shop for corporate B2B payables needs. Combined with our existing highly successful virtual payment solutions including virtual account numbers or VANs, Invapay completes our product offering, enabling us to offer genuine 'pay anyone, anywhere' capabilities."
Invapay CEO, Sid Vasili says: "The Invapay and Optal businesses are a great fit. This transaction will ensure that the Invapay business has the resources and capabilities to meet our global growth aspirations. People talk about 'procure to pay' but no one really manages the 'pay' part very effectively. The team at Optal share our vision for solving that problem."
Sid Vasili, the founder and CEO of Invapay and his experienced team will remain with the Invapay business post acquisition.