Fatfish Acquires 55% of Pay Direct, Southeast Asian Payment Gateway Provider with A$380m Annual Transactions
Highlights:
●FFG to acquire a 55% strategic stake in Southeast Asian payment gateway provider, Pay Direct Technology Sdn Bhd (“Pay Direct”
●Pay Direct operates QlicknPay, a payment gateway technology solution that allows financial institutions to rapidly onboard merchants to accept online payments
●The acquisition will have impactful synergies with FFG’s BNPL roll-out
●Clients of Pay Direct include OCBC Bank (#2 largest bank in Southeast Asia) & Public Bank - one of Malaysia’s most profitable banks (#6 largest in Southeast Asia)
●Businesses that process payments online using Pay Direct’s payment gateway include: Wise (formerly TransferWise), TeaLive (Southeast Asia's largest lifestyle tea brand) and more than 500 other merchants
●Pay Direct currently processes monthly A$32 million worth of transactions and annually A$380million worth of transactions
