daVinci Payments Combines with North Lane Technologies
The U.S. prepaid bankcard solutions provider daVinci Payments ("daVinci") and payment solutions provider North Lane Technologies, formerly known as Wirecard North America Inc., announced that they have combined to establish a high-growth, premier payment company with innovative technology and solutions. The combined entity will operate under the umbrella of Syncapay, Inc. ("Syncapay"), the holding company for daVinci.
The combination of daVinci and North Lane creates a company with an unparalleled ability to accelerate the future of digital payments, through a leading suite of fintech services and payment solutions across incentives, rewards, disbursements, compensation, and global payouts. The addressable market of the combined company is estimated to be $7.9T in annual payment volume, with $500B in addressable revenue.
Juli Spottiswood, Chairman and CEO of Syncapay, said: "We are thrilled to welcome North Lane into the Syncapay family, and, along with daVinci, look forward to delivering an unparalleled payments platform, empowering companies to thrive in a digital future. By bridging the technologies and capabilities of daVinci and North Lane, we will be positioned to sell a broader base of services and benefit from economies of scale to accelerate the growth opportunities for our combined company."
David Josephs, CEO of daVinci, commented: "Cutting-edge payment experiences across expanding markets present major growth opportunities. We will continue to advance payments across the most relevant form factors and constantly ensure that people are paid when, where and how they want to be paid. The future of payments is digital, global and seamless, and we look forward to realizing the opportunities that the expanding market provides."
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