This strategic move will enable Payment24 to broaden its reach and provide its comprehensive suite of payment solutions to a wider customer base across Europe.

Payment24, initially established as a digital fuel management and telematics platform, has evolved into a global platform developer specializing in payment and loyalty solutions catering to the financial, oil, retail, convenience, transport, and logistics industries.

With a presence spanning five continents and 18 countries, Payment24 is poised to make a significant impact on the European payments landscape.

The acquisition of Inergy 24 will further strengthen Payment24’s European presence, allowing the combined entities to offer customers throughout Europe access to a comprehensive range of payment solutions, including fleet management, mobile and retail, loyalty, electric vehicle (EV), and cloud payments.

“As a relatively new player in the European digital and fuel payments ecosystem, our platform provides customers bound to unwieldy legacy payment solutions with an entirely reimagined digital solution that is quick and easy to deploy,” remarked Shadab Rahil, joint-CEO at Payment24.

Payment24’s investment in Inergy 24 underscores its commitment to better serving and delivering solutions to clients across Europe.

Over the past three years, the Payment24 platform has transformed from a fleet management and petroleum payments solution to an all-encompassing payments and transacting solution.

Payment24 recently launched Cloud Switch, a cloud-based payment solution that significantly reduces time to market for businesses seeking to upgrade their transaction switching systems.

This fully integrated, versatile, hardware-less payment switch supports a wide range of payment methods, combining cloud technology, robust POS compatibility, and a suite of value-added services to deliver an all-inclusive transaction environment.