UK Fintech Trust Payments acquires WonderLane
Trust Payments has snapped up retail technology company WonderLane.
WonderLane, based in the U.K., works with retailers to deliver systems designed to speed up the checkout process, engage customers and provide a single view of inventory, products and customers.
Trust Payments is a fintech payments and software services provider whose omnichannel platform processes billions in secure transactions every year for businesses across the globe, including the UK and US.
“The move enables Trust Payments to provide innovative retail operations technology solutions to any shop with its electronic point of sale (ePOS) offering, enabling truly omnichannel commerce and payments solutions — all of which supports the growing trend for self-checkouts and wireless contact payments on-the-move,” Trust said.
“It is a natural extension for Trust Payments to acquire WonderLane and combine their retail operations technology expertise with our vision for payments across Converged Commerce,” said Trust Payments CEO Daniel Holden.
He said the company “will accelerate our expansion and retail expertise to support self-checkout kiosks, mobile based click & collect services or smaller Android-based mobile payment units for smaller enterprises looking to offer contactless payments.”
Martin Hartley, director at WonderLane, said: “WonderLane and Trust’s complimentary product set will help to ensure that customers can benefit from innovative payments solutions and an expanded product suite.
Based in London, Trust employs 400 people in 10 locations, supporting business sectors that range from retail, travel and hospitality to crypto, gaming and financial services, as well an acquiring network of more than 50 global banks and hundreds of alternative payment methods.
The shareholders of WonderLane were advised by Springboard Corporate Finance partner Simon Ward, director Robert Johnson and manager Tom Hammond.
The company says its acquisition of WonderLane comes at a time when consumers want their retail transactions to be as convenient and seamless as possible.
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