Bitmama Inc., a prominent blockchain payments platform, has officially acquired Payday, a virtual card service provider. The acquisition, facilitated through Bitmama's cross-border payments product, Changera, signifies a transformative shift in the industry.
Despite initial speculations of a potential acquisition by lead investor Moniepoint, Changera will now absorb 100% of Payday's customer base, comprising over 300,000 users. While the financial terms remain undisclosed, insiders suggest it's an all-stock deal valued at "millions of dollars."
The integration is already in progress, with key Payday personnel transitioning to Changera, aiming to enhance customer experience and reliability.
Bitmama's strategic roadmap post-acquisition includes the development of an innovative FX solution set to launch in Q1 2024, emphasizing the evolving trend of fintech industry consolidations for strategic growth and operational scale.
