Visa has wrapped up the acquisition of Fraedom, a UK-based software-as-a-service technology firm offering payments and transaction management solutions for financial services providers and their corporate customers.
The deal, whose terms were not disclosed, was first announced last month.
Fraedom has been a partner of Visa for around a decade. Visa IntelliLink Spend Management, which is the core platform for the credit card giant’s commercial and small business clients, is powered by Fraedom’s technology.
Commenting on the deal, Fraedom said: “With this acquisition, Visa is highlighting its commitment to commercial solutions and to accelerating our growth. It should come as no surprise that their primary objective will be to invest in our platform to develop next generation B2B solutions.
“This deal is about driving growth that will come from delivering more secure, seamless commercial payment experiences. We’ll continue to support a broad range of payment brands and partners, as we always have, and our customers continue to be served by Fraedom without disruption.”