Infinant Acquires Figure Pay’s Card Processing Technology to Strengthen Digital Payment Capabilities for Banks

CHARLOTTE, NC / ACCESSWIRE / May 28, 2024 / Infinant, a leading banking technology provider, has finalized an agreement to purchase Figure Pay's Card Processing Technology from Figure Technologies. The two companies will also collaborate to deliver new card products for Figure Markets and Infinant's banking partners.

Through this acquisition, Infinant enhances its digital payment capabilities, including real-time debit card issuance and processing as part of its Interlace Platform. The platform unites payment hub processing with a virtual banking system, allowing banks to manage end-user accounts on a single platform.

Figure Pay offers advanced card processing technology that increases efficiency across the payment ecosystem. Infinant's approach enables banks to control their programs while maintaining regulatory and compliance standards.

Riaz Syed, CEO of Infinant, stated, "We are excited to accelerate our growth with these next-generation payment capabilities, offering a disruptive model for banks to expand their digital channels."

The financial details of the acquisition were not disclosed.