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US paytech Kindcard eyes up OpenTransact acquisition

January 3, 2024

Founded in 2010 and based in New York, OpenTransact offers a Software-as-a-Service (SaaS) platform that facilitates payments and provides risk management solutions for high-risk industries such as CBD and gaming.

Compatible with cryptocurrency, ACH, debit and credit card-based payments, the platform is angled at merchants that have historically been unable to access the payment services of Shopify, Stripe or PayPal.

Michael Rosen, CEO of Kindcard, says the potential acquisition of OpenTransact presents a “significant opportunity” for his company to enhance both its revenue and IP technology stack.

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