What do you get when you cross a developer platform with an acquirer? EVO, EVO Snap* to be specific. In a world where developers are trying to reach merchants and acquirers are looking for an edge, innovation is agenda item number one. With this in mind, EVO Payments International made a key acquisition that will bring a new solution to market – in the U.S. and around the world. Get the scoop and nothing but the scoop from EVO CEO Jim Kelly in his cyber-side chat with Karen Webster, MPD CEO.
Throughout the ongoing mobile payments revolution, the press has been quick to dote on the enterprising startups and charismatic entrepreneurs disrupting the industry. After all, it’s not uncommon for today’s mobile startups to gain high-profile headlines before signing up their first customer.
Established players, on the other hand – even those who are adeptly finding new solutions while serving a large base of clients – are typically treated to less fanfare. But, despite this imbalance, one company that has refused to stand still in the face of new challenges is EVO Payments International.
On August 26, EVO announced its latest forward-thinking move when it revealed a broad suite of solutions for mobile developers through the acquisition of software licenses from IP Commerce. This acquisition lead to the formation of EVO Snap*, a new business unit that will support the software community by giving them access to merchants and a development environment that will help them payment enable their commerce ventures.
Partners will include “anybody in the development company who’s looking for a holistic solution” that provides “a very seamless boarding, customer service and support solution for their customers.”
For an up-close look at how EVO Snap* positions EVO to further its goals, Kelly spoke at length with Market Platform Dynamics (MPD) CEO Karen Webster in conversation that shed new light into the current mobile payments environment and the future for EVO.
A Closer Look At EVO Snap*
For its new solution, EVO purchased a key perpetual software license from Colorado-based POS specialist IP Commerce as part of an undisclosed deal. However, Kelly told PYMNTS.com that EVO Snap* will expand beyond the capabilities of traditional software by powering a new business unit that will focus exclusively on building integrated payments capability, attracting software developers and filling a void that will EVO better compete in the marketplace.
“It’s no longer a terminal on a desk next to the PC,” Kelly said in an interview. “It’s a toolset of solutions for the developer who’s sold this solution to a merchant, or sold software to a merchant, and then needs a payment solution.”
EVO Snap*’s International Impact
Webster sees EVO Snap* as EVO’s response to a trend affecting merchants and developers worldwide – how mobile and connected devices can increasingly solve both payments and non-payments problems.
Kelly agrees with this sentiment, explaining that this is part of EVO Snap*’s broad appeal. EVO’s CEO said EVO Snap* is likely to attracting interest abroad, especially among international firms that want to come to the United States and better serve their clients worldwide.[blockquote text=”I’ve traveled the world pretty extensively, and in particular, outside of Europe out in developing markets, they’re skipping generations of payments and mobile is clearly on everybody’s radar, and for us to be able to meet those needs, we need to be easy to do business with, and we think that’s what EVO Snap* does, Kelly said.” text_color=”#fff” width=”98%” show_quote_icon=”yes” quote_icon_color=”RGBA(255,255,255,.5)” background_color=”#0140be”][vc_separator type=’transparent’ position=’center’ color=” thickness=” up=’20’ down=’20’]
Preparing For Launch
EVO Snap* will be ready for deployment in the fourth quarter of 2013, and the company indicated it is already looking for “interested software companies” to sign up to request early access to the solution.
For more on EVO Snap*’s capabilities and the opportunities Kelly sees for the solution in the international market, listen to the full podcast here.