Payments & Fintech Acquisitions in 2011

Visa Inc. acquired Fundamo, a Cape Town–based mobile financial services platform provider, for approximately $110 million in cash. The acquisition adds Fundamo’s mobile money technology and deployments across Africa, Asia and Latin America to Visa’s portfolio to accelerate delivery of mobile payments and branchless banking to under-banked consumers and to expand Visa’s mobile capabilities globally.

Pivotal Payments completed the acquisition of a merchant portfolio from American National Payments, adding over 2,000 merchants and approximately $300 million in annual bankcard volume. The deal also brings an established ISO sales partner into Pivotal's channel, supporting the company's continued North American expansion of merchant services.