Swiss payment service provider Klik & Pay acquires Paymill

Paymill, the German payment provider that filed for preliminary insolvency two months ago, has been acquired by Swiss payment service provider Klik & Pay. It seems like Paymill, which is seen as the German answer to US payment service Stripe, has been saved by the Swiss company and can now live on.

Tech.eu puts it as Klik & Pay, which is part of the Swiss company Cyberservices, throwing a lifeline to Paymill. The German company was founded in Munich in 2012 and was backed by incubator Rocket Internet. Together with funding from other investors it raised 16.5 million euros in order to be the European answer to US payment service company Stripe. Just as its American inspiration, Paymill offers its customers the ability to accept credit card and debit card payments online.

Paymill announced this May it made the decision to go for a preliminary insolvency, as it was in advanced negotiations about a merger and acquisition. Back then founder Mark Henkel said it was an emotional period. Now his company has been acquired by Klik & Pay and he will remain on board.

About Klik & Pay

Klik & Pay was founded in Switzerland in 2000 and offers payment solutions and services to ecommerce companies. It offers customers a tool that enables them to cash-in their sales and monitor payment and data in their back office. It offers merchants 25 different means of payment.