Finch-backed payments firm acquires Wirecard ops in Malaysia, Hong Kong

Nomu Pay, a newly established payment solutions provider backed by Finch Capital, said it has completed two transactions to acquire Wirecard Payment Solutions Malaysia and Wirecard Payment Solutions Hong Kong.

The company also announced the appointment of Peter Burridge as its group CEO. He will be based in Singapore, according to a statement.

Nomu Pay CEO Peter Burridge / Photo credit: Nomu Pay

According to Nomu, the acquisition and appointment come as part of Nomu Pay’s strategy to create a payments company focused on high-growth customer segments in Asia Pacific, the Middle East, and Europe. The company said it’s in the process of closing several other transactions related to different Wirecard entities in Thailand, Turkey, and the Philippines.

Following these deals, the Ireland-based firm will be active in five countries and have access to markets of 300 million people.

Burridge said the Covid-19 pandemic has  played a major role in the region’s payments ecosystem shifting to digital, with more merchants and financial institutions willing to innovate. “This provides us with a unique opportunity, and we are committed to achieving growth alongside our clients by bringing the latest payments technology to market,” he added.

Burridge joins Nomu Pay after gaining over 30 years of management and leadership experience at several tech companies. Prior to the move, he served as president of payout platform Hyperwallet and held leadership roles at Oracle, Siebel, and Travelex Global Business Payments.

Nomu also said it’s making other new hires to complete its senior management team, including the appointment of Owen Burke as financial director based in Dublin, Ireland.

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Nomu’s announcement comes after Singapore-based payments platform Nium inked an agreement to acquire Wirecard Forex India for an undisclosed amount.