Paymentez, a monetization platform for micro transactions in Latin America, has acquired a majority stake in Florida-based start-up SpeedETab for an undisclosed amount.
Founded in 2015, SpeedETab powers mobile ordering and mobile payments at more than 200 locations, including Panther Coffee, Zaro’s Bakery, Gregory’s Coffee, Toby’s Estate and Adrienne Arsht Center, in the US.
As part of the transaction, SpeedETab will integrate Paymentez’s middleware technology to expand the presence of its app to merchants and users nationally.
Paymentez CEO Juan Franco said: “As the complete solution in payments in Latin America, we at Paymentez are thrilled to team up with SpeedETab to enter the US market.
“SpeedETab is an ideal partner as their software and goals align with what we’ve worked toward in Latin America. Together, we will offer U.S. consumers and merchants a superior mobile commerce experience.”
SpeedETab CEO Adam Garfield said: “SpeedETab has grown at a phenomenal rate since our initial launch as consumers and merchants have embraced our platform as the preferred way to order and pay for items at their favorite venues.
“With Paymentez’s proven experience, existing POS integrations and tech resources, we’ll be able to expand our reach and grow SpeedETab to new heights.”