Blog Exposure - ING Acquires 75% Controlling Stake in Omnichannel Payments Service Provider Payvision

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LONDON, UK / ACCESSWIRE / January 31, 2018 / Active-Investors.com has just released a free research report on ING Groep N.V. (NYSE: ING). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ING as the Company's latest news hit the wire. On January 29, 2018, the Company announced that it has acquired a controlling 75% stake in Amsterdam, the Netherlands-based Payvision. ING's shared that Payvision's total worth was €360 million (approximately $447.4 million), however the Company did not disclose the value of ING's investment in Payvision. The strategic deal will allow ING to expand its omnichannel payments offerings in the payments processing market especially in the e-commerce segment. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Principal Financial Group, Inc. (NASDAQ: PFG), which also belongs to the Financial sector as the Company ING Groep. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, ING Groep most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Highlights of the transaction

As per the agreement signed by ING and Payvision, ING will acquire 75% stake while Payvision's founding management team will retain the balance 25% stake. Payvision's existing management team is also expected to continue managing the business operations of the Company. The deal is expected to close in Q1 2018. ING expects that the deal will not have a material impact on its CET 1 ratio. CET 1 (Common Equity Tier 1) ratio indicates the financial strength of a Bank and gives an overall view of Funding Risk.

Commenting on acquiring controlling stake in Payvision, Ralph Hamers, CEO of ING, said:

"The payments sector is one of the most dynamic areas of the financial services industry. In order to stay a step ahead, ING has to constantly innovate. We do that by starting up our own ventures and by strategically taking minority or majority stakes. Payvision's founding team has developed a great business with a proven technology in an area where ING wants to grow. We are confident our customers will strongly benefit from this investment."

Rudolf Booker, founder and CEO of Payvision, added:

"This investment in the payments market, made by one of the world's most innovative financial and banking services brands, acknowledges our vision to deliver leading payments capabilities to support customers maximize their revenues."

Benefits of the deal

For ING, the deal will allow it to leverage Payvision's technology platform to complements its lending and working capital solutions and expand its global distribution network. ING will be able to offer it merchant customers a payments platform that offers customized payments solutions designed for the fast-paced international retail environment.

Currently, Payvision's payments platform supports more than 80 payment methods covering 150+ currencies including Maestro, Visa, iDEAL, Alipay, JCB, Mastercard, PayPal, and Union Pay. The deal allows ING's business customers to accept all types of payments via any channel, including in-store terminals and ecommerce sites and through any device and from anywhere in the world. The user-friendliness and a uniform shopping experience on Payvision platform is sure to increase frequency of purchases. Merchants can easily track and manage all their payments across geographies through a single platform. Payvision's platform provides merchants with data and analytics as it can be connected to their accounting software which can help them taking informed business decisions and increase revenue and decrease costs. The best feature of Payvision's platform is that it is a faster and safer and offers better protection against fraud and risk.

For Payvision, the investment from ING will allow it to support its ambitious growth plans, expand its payment product portfolio, and develop its global network.

About Payvision

Founded in 2002, Payvision is a fast-growing, independent international omnichannel payments service provider. Its payments platform connects payment service providers with global merchants. Payvision launched Acapture in 2015, a new data-driven payment service provider to cater to the omnichannel and cross-border payments needs of merchants. The Company has extensive experience in the global payments market and vast knowledge of ecommerce payments processing. Payvision has offices in 10 cities in the US, Europe, Asia, and the Pacific.

About ING Groep N.V.

Amsterdam, The Netherlands-based ING is a global financial institution with a strong European base, offering banking services via ING Bank. ING Bank offers offer retail and wholesale banking services to customers in over 40 countries. It is supported by a team of over 51,000 employees who service 36.9 million customers, of which 10.5 million were primary customers (as on September 30, 2017).

ING Group's shares are listed on the Amsterdam, Brussels, and on the NYSE (New York Stock Exchange) and its shares are being included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World) where ING is among the leaders in the Banks industry group.

Stock Performance Snapshot

January 30, 2018 - At Tuesday's closing bell, ING Groep's stock fell 1.24%, ending the trading session at $19.99.

Volume traded for the day: 5.22 million shares, which was above the 3-month average volume of 2.73 million shares.

Stock performance in the last month – up 8.00%; previous three-month period – up 8.35%; past twelve-month period – up 39.40%; and year-to-date - up 8.29%

After yesterday's close, ING Groep's market cap was at $77.65 billion.

Price to Earnings (P/E) ratio was at 13.51.

The stock has a dividend yield of 2.85%.

The stock is part of the Financial sector, categorized under the Life Insurance industry.

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