PAYMENTS

Shift4 Deals with Finaro to Pave the Way for Global Cryptocurrency Expansion

Shift4 | March 03, 2022

Shift4_Deals_with
Shift4, a leading integrated payment and technology solutions provider, announces that it will acquire Finaro, a popular cross-border eCommerce payments provider, and The Giving Block, a specializer in cryptocurrency fundraising for nonprofits. These acquisitions are Shift4’s ambitious goals to pursue a multi-trillion-dollar marketplace worldwide. The marketplace includes stadiums, eCommerce, restaurants, gaming, hospitality, charitable donations, specialty retail to accelerate growth in the future.

These two acquisitions build on the momentum from our recent investor day and underscore our aggressive efforts to deliver a unified commerce experience across the world. These deals clearly show our ability to support existing transformational and global customers like SpaceX Starlink& St. Jude Children’s Research Hospital and provide real right-to-win additional customers across the nonprofit vertical. It also represents an exciting and responsible step towards further embracing cryptocurrencies and blockchain technology.”

Jared Isaacman Shift4 CEO 

With these developments, Finaro will provide the global infrastructure with the help of cutting-edge technology that will be further needed to drive Shift4’s international ambitions to deliver a unified commerce experience for customers. Therefore, by integrating the capabilities of Finaro, Shift4 can expand the company’s current services worldwide, including SkyTab POS solution, VenueNext stadium offering, and Shift4Shop eCommerce platform. In this way, Shift4 may also gain more international prominence and might strike with immediate international opportunities from the acquisition.

Further to this, Shift4 will also invest in The Giving Block’s successful strategy as it operates as the leading crypto donation marketplace with donors with over 1,300 nonprofit organizations. This acquisition also gets a team of cryptocurrency & blockchain technical talent. The team will establish a Crypto Innovation Center at Shift4 and integrate crypto acceptance and settlement capabilities across the current offerings of Shift4 in a wide range of verticals.

“Cryptocurrency is quickly moving beyond early adoption and becoming increasingly mainstream as more people want to invest, transact and donate in crypto. We intend to be at the forefront of this movement and leverage The Giving Block technology across the entire Shift4 enterprise, ” stated Isaacman.

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